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Bitcoin Price Rises Nearly 20 Percent Monday

Bitstamp bitcoinity 03 march 14

It’s the start of a new week, and the bitcoin price (or rate) is not surprisingly doing crazy things. Today, the price per coin has come up a whopping 20 percent (as of this writing — and it may change depending on what you’re reading this) with relative ease — reaching a high of $710/BTC at Bitstamp.

But almost as quick as the price came up, it began to dip slightly. At the time of this writing, we’re looking at prices in the rang of $675/BTC at Bitstamp.

Some speculate that the rise is associated with the release of tax guidance from HM Revenue & Customs in the United Kingdom. In that brief, the tax authority recognizes bitcoin as any other foreign currency with regard to some tax situations.

But we’re interested in knowing: what do you think the price climb today is attributed to?

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