Bitcoin has surpassed the $50,000 price threshold for the first time in three months, pushing its market capitalisation closer to the $1tn mark.

The largest cryptocurrency by market capitalisation had been on a steady rise since its last major plunge in July, which saw its price fall below $30,000. The token has been rocked by several flash crashes since its April all-time high of $64,829, creating unstable territory for traders.