Analysts credit much of the recent gains to an anticipated “crypto-friendly” nature of the incoming administration, which could translate into more regulatory clarity but also leeway.

Bitcoin stood on the verge of $90,000 on Tuesday, riding a wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto friendly. The world's biggest cryptocurrency has become one of the most eye-catching movers in the week since the election and touched $89,

Traders are eyeing $100,000 for bitcoin by the end of the year potentially. The total crypto market value has surged to $3 trillion since the election.