For the first time in months, the price of Bitcoin has climbed past the $200 mark at one of the leading Bitcoin exchanges, Mt.Gox. The surge, which is hovering in the $200USD-area as of this writing seemingly comes as a result of Chinese demand for the virtual currency. The demand, which many think was sparked by Chinese search engine Baidu’s recent announcement that they’ll be accepting Bitcoin payments has brought the price of Bitcoin up to about 1250CNY.
How long the rally will last is anyone’s guess, however. Discussions online have many thinking the price of Bitcoin will climb even higher in the coming days. That, of course, is merely speculation. Given Bitcoin’s climb in the recent weeks, though, we may be bubbling.
What are your thoughts on where the price of Bitcoin goes from here?