Bitcoin Breaks $400

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Bitcoin is currently hovering at around $400 on Bitstamp, a rise of over $100 since last week’s doldrums. While there doesn’t seem to be a direct reason for the rise, BTC fans are pointing to the documentary called The Rise And Rise of Bitcoin as improving general sentiment.

Public sentiment is one reason to invest in bitcoin but I doubt it’s the only one. The market is clearly volatile and, outside of a small group of converts, relatively unknown. However, it is moving constantly and today’s $400 could be tomorrow’s $250. The emptor should caveat.

The currency hit $400 during the Asian trading period and is now about $402 on Bitstamp.