The price of bitcoin continues to go up, now crossing $650 at the Bitstamp exchange. That brings the value of bitcoin up 12.8% in the past week and a whopping 45% in that past month. Immense growth, indeed!
As one would come to expect, the bitcoin community is very much excited about the recent uptrend, which highlights an over $2 billion increase of the digital currency’s market cap.
Of course, there isn’t any one single reason for the increase in price — but we have been observing a steady stream of good news from the bitcoinosphere over the past few weeks.
Some of those news items include Dish Network accepting bitcoin, Coinbase attracting 20,000 college students to their platform, a major New York law firm accepting bitcoin, BitPay processing over $1 million in payments per day, and more.
On two occasions last year, we saw two spectacular price spikes.
The first took place in April, in which the price per coin rose past $200. The second, slightly more exciting to community members, was when the price per coin exceeded $1,000 (it reached a high of $1,200+ at now-defunct Mt. Gox, whose prices were always higher due to withdrawal limitations).
In last week’s poll, we asked you whether or not you thought we were entering the next big bitcoin bubble. In total, 583 people voted.
62.6 percent (365 people) said that yes, they did think we were entering the next big bubble, whereas the other 37.4 percent said they did not think we were entering a bubble.
Let’s see what you folks think about this week’s poll: