The price of the digital currency bitcoin rose above $1,700 Tuesday morning, according to a price index by industry website Coindesk, with analysts contemplating what risks could potentially scupper its recent surge, CNBC reported.

Bitcoin has increased by 43 percent, according to Coindesk figures. “Over one year, the market capitalization for bitcoin has increased massively, from around $7.16 billion in May 2016 to $27.9 billion today. In just the last 24 hours its market capitalization has risen by over $1 billion, according to the website's price index,” CNBC reported.

“While the price rises, cryptocurrency investors are also becoming more confident. The number of "long" bitcoin positions held – where investors speculate that it will rise in price - has increased from a low of 7,649 on April 29 to 15,279 on Tuesday, according to data from bitcoin exchange Bitfinex. Over the same period, short positions held have remained fairly consistent at around 17,000,” CNBC reported.

Bitcoin has been slow to gain endorsements from any major economic gurus. If anything, it has drawn criticism.

JPMorgan CEO Jamie Dimon has said bitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it."