CRYPTOCURRENCIES such as Bitcoin, Dogecoin and Ethereum have had a bumper couple of months, regularly reaching record new prices.

But what is causing these price spikes and should investors be thinking about entering these extremely volatile markets?

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Cryptocurrency prices are rising, but investors must be cautiousCredit: Getty

On April 14, Bitcoin reached its highest price for the second day running, surpassing $64,000 for the first time since the currency was invented.

Meanwhile, the price of Dogecoin hit a fresh all-time high on May 5 as interest in the “joke” cryptocurrency grew stronger.

And Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time in May too, marking a 325% rise since the beginning of this year.

Below we explain why cryptocurrencies are going up in value, although all three have fallen slightly in the past few months.

Investors should be aware…

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