Crypto traders will be hoping Bitcoin can emulate the first quarter of 2017 in the coming months, after it posted its biggest quarterly price gain since late 2017.

Investors in the original cryptocurrency saw its price plummet last year after record highs of almost $20,000 (£15,886) per coin in December 2017.

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Its price has risen 10.91 per cent in the first quarter of the year, from $3,693 to $4,096, according to Bitstamp.

The rise represents the first double-digit three-month gain since the final quarter of 2017 when prices rose 221 per cent.

But it remains around 43 per cent lower in price than this time last year, when it was worth $7,182 per coin.

Simon Peters, analyst at crypto investment platform eToro said: “As the price of Bitcoin continues its much welcomed momentum, some investors are now eagerly awaiting to see if we break the $4,200 price level."

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“Bitcoin has failed to break this ceiling so far in 2019, and therefore this price movement would be significant.

"However, investors should hold their horses, as only once we’ve seen a break and, importantly, the price stays above $4,200, can people perhaps start to turn bullish for the long-term.”