Media is reporting that all this is due to demand from Japan. The trade in JPY is currently 46% of all the Bitcoin trade volume, compared to 25% for the United States Dollar and 12% for the Chinese Yuan. Just imagine what could happen, if China legalizes Bitcoin. The volumes in CNY could even overtake that with the Japanese Yen.
Can you give the source of this good news ? I wonder the way bitcoin price is moving up in last two days it can stabilize on the price above 4000$. If we can have a stable price of 4000$, then we can see another target of bitcoin and that is 500$.