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

Last month 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 today (May 5) as interest in the “joke” cryptocurrency grew stronger.

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

Here we explain everything you need to know, including why cryptocurrency investing can be extremely risky and how to avoid…

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