As Tuesday comes to a close here on the Eastern side of the United States, digital currency users are delighted to see something different in the community, with a certain level of refreshment and optimism.
That’s because the bitcoin price rose more than ten percent at one point Tuesday, just grazing past $500 earlier in the afternoon at the Bitstamp exchange.
There’s been no lack of positive news lately, with news of Circle’s new products and BitPay’s aim to become a part of Toshiba’s VisualTouch point-of-sale system. Not to mention the excellent slew of events that took place at Bitcoin 2014 in Amsterdam.
The very topic of what brought the price down to a six-month low of $340 at Bitstamp have seemingly subsided now that fears of a catastrophic meltdown in China due to pressure from the country’s central bank have subsided, primarily because nothing terribly bad has happened as a result.
The question is, will the increase persist? Most people would like that to happen, especially since we’ve been in a rather boring period of stability (which is actually a good thing). But you can’t help getting excited when that number gets higher, can you?
We’re certainly a long way from the jumps experienced last year. The first took place in April, when the bitcoin price soared past $200 from double digits. Later in November, the bitcoin price climbed past $1000 at disgraced bitcoin exchange Mt. Gox.
As of this writing, the price per bitcoin is pegged at $496 at Bitstamp, up just over 7.5 percent in the past twenty-four hours.
Where do you think we go from here?