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Following Bitcoin’s price has been a wild ride with plenty of ups and downs along the way.
November 2013 saw a Bitcoin frenzy with each Bitcoin trading over $1000 a piece, then in 2014 Mt. Gox collapsed and there was a year long decline in price, reaching under $200 per Bitcoin in January, 2015.
The price of Bitcoin has slowly recovered since then, hovering around $450 from December ’15 til May ’16, when it shot all the way up to $778 (on Bitstamp) in the span of two weeks.
The price shortly came back down to the $500 level, where it has slowly but steadily climbed up since.
Today (Dec 1, 16) according to BitcoinAverage, a popular Bitcoin price index, the price rose to an average across multiple exchanges to $781, $23 more than the May ’15 average high of $758.
Hopefully this is the beginning of another run up to $1000 and beyond.
Possible reasons for the increase in price of Bitcoin is a weakening local currency in China (where a majority of Bitcoin trading takes place) and new interest coming from India. Bitcoin transactions are also at an all time high of ~300k.
A great place to watch the price of Bitcoin with beautiful interactive charts is BitcoinWisdom.com.
