The price of the cryptocurrency bitcoin soared past $40,000 for the first time on Thursday, rising $10,000 in just five days, having jumped 10.4 percent during the trading session.
It later lost some ground and Factset data valued it at $38,950 dollars, up 6.52 percent.
The cryptocurrency, which has known wild swings in value, passed $30,000 for the first time just on Saturday.
But its latest meteoric rise is already fuelling talk of a new correction.
Fellow Oanda analyst Craig Erlam warned that even if a correction does not seem imminent, once one emerges “it’s going to hurt”.
And one European analyst who wished to remain anonymous told AFP that “it’s starting to get worrying — it’s no longer at all the market of a few weeks back — a correction is inevitable.”
Others, at Societe Generale, said if a large fall does materialise people will likely look back at “bitcoin’s pandemic bubble.”