Here we go again. After a long stretch in which the price of bitcoin held stable, the world’s most famous digital currency is on the move again—and this time it’s heading straight up.
On Tuesday, bitcoin was nosing towards $550 per unit, which is even higher than August 2014, when bitcoin prices reached almost $533. The recent move also ends a six-month period of relative tranquility in which prices mostly hovered between $350 and $450.
Reason 1: Mining bitcoin is about to get more expensive
Reason 2: Hype over a new digital currency is reigniting interest in bitcoin
Reason 3: China, China, China
http://fortune.com/2016/05/31/3-reasons-bitcoin-is-booming-again-price-nears-550/