It Gets Really Hot - $1,000 for Bitcoin

Bitcoin prices have reached new records once again. Today the world’s largest bitcoin exchange Mt. Gox gives about $1,000 for a single bitcoin unit.

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It Gets Really Hot - $1,000 for Bitcoin

Bitcoin prices have reached new records once again. Rapid growth of Bitcoin prices began in October, but since 18th of November – the date of US Senate hearing about bitcoin and its recognition by law a real race began. This hearing was one of the major events when experts and governmental authorities discussed digital currency future and its perception as money.

Previous psychologically important barrier of $900 bitcoin overcame on 18th November. Then the price jumped to $1,000 on BTC China exchange on 19th November, and soon the same price appeared in US market.

Today the world’s largest bitcoin exchange Mt. Gox takes $1,000 for a single bitcoin unit.

As almost any traded instrument in modern economy, bitcoin prices changes according to ratio of supply and demand. As the number of downloaded bitcoin wallets and the list of ventures, that join the bitcoin system grows, so the prices of digital currency changes.

We have already witnessed a lot of news considering regulations over digital currency and it’s not the first time, when actions of governmental experts influence on bitcoin prices growth. Lately in 2013 the prices of bitcoin increased seriously exactly when the major publications and discussions were coming from governmental authorities. For example, back in March 2013 US Treasury’s FinCEN published guidance that effected bitcoin prices and it increased almost for $50 in 10 days.

The second factor that influences bitcoin prices growth is Chine digital currency market. So far, bitcoin regulations in Asia have been positive. Is it going to change we don’t know for sure yet.

The numbers of merchants who accept bitcoin continue to grow. A pleasant surprise came from Virgin Galactic – now it became possible to buy tickets for suborbital space flights with bitcoins. The owner of Virgin Galactic – Richard Branson and his recent decision to allow bitcoin users participate in space tourism accelerates bitcoin adoption process in society. It won’t take long till other big companies begin to participate in bitcoin system adaptation.

Moreover, talks that eBay and PayPal might accept bitcoin in future stir up interest.

So stay tuned to see what what’s next!

 

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