For the first time in his history, the value of the digital currency exceeded the threshold of 66,895 dollars.
After a big sell-off at the end of last week, cryptocurrencies surged Monday.
According to data from coin metrics, the price of the virtual currency climbed over the last 24 hours to $57,373. Other digital assets also increased, with ether increasing to $4,331 and XRP increasing to 98 cents.
The new heavily-mutated omicron Covid variant was giving the market a boost, according to the head of Asia Pacific at Luno.
Ayyar said that news of the variant being potentially weaker in terms of symptoms has helped the market comeback. Smart investors probably bought this dip.
Last week, the price of the virtual currency sank to its lowest level since October, as fears over the new coronaviruses led to a broader sell-off of riskier assets.
The world's largest digital currency was down more than 20% from its recent all-time high, officially entering bear market territory. Bear markets are defined by a decline of 20% from recent highs.
The new variant of Covid has spread to multiple countries, including the U.K., Germany and Italy.
The U.S., U.K. and other nations have restricted travel to some African countries. There are new measures to tackle the new virus in Britain, including mandatory mask wearing in shops and public transport in England.
The symptoms of the omicron variant were described by Dr. Coetzee as being extremely mild, soothing fears of a potential return of restrictions during the holidays.
Ayyar said that the global environment did add to the uncertainty across all risk asset classes, but the bounce back always shows us how strong the uptrend is.
He said that if the currency lost $50,000 on a daily or weekly basis, that would be bearish. Ayyar says that they are still in bull market territory.
