That rise in price was not sudden but there was reason for happening this. US presidential election played an important role as whole world was afraid of Donald Trump's victory and was expecting to see some tougher and restrict rules. Many people preferred to convert their fortunes into Bitcoin seeing it new safe heaven and Chinese exchanges played their role. Thses both thing took the price above 1000$ exactly on the first day of new year.
@jtalk, You are right!!
"....
US presidential election played an important role.." might have contrinìbuted to this increase!
And, if this is true; it means will continue to see INCREASE IN BITCOIN! As you can see from the current exchange rate.I'm making series of research in regard's to this increase. it's not just based on chineese manipluation's; which i think it may have partially influence the increase in bitcoins.
But, there are
MORE reason to this; why bitcoin will keep increase during the leadership of Trump. I'm conducting series of research in order to connect this properly.
Also, i know most successful people like trump don't
SAVE, they like to invest in any currency that increases over a period of time (
HEDGING). And, virtual currency like bitcoin is not excepted
Thanks
Bitcseo