Bitcoins up 78% since January 1

bitcoincharts.com

The current price is about $23.90. The previous high in June 2011 was $31.90. No doubt the current rate of increase will lead to a correction.

What is different now from June 2011, is the growing strength of the still-small bitcoin economy, and the maturing security of bitcoin wallets and exchanges, e.g. the YCombinator funded Coinbase.

I don't understand how to read your comment:

Option A) Be careful, it's just another bubble!

Option B) This time is different!

I meant it both ways. The price is rising too fast - suggesting a bubble. But the underlying bitcoin economy is also much stronger than 18 months ago, so the inevitable correction may not be as deep as last time.

Still the growth is too high. You can't tell me Bitcoin grew 50% just because one small company that does 0.5% of the transactions appeared on the market. I'm pretty sure it will drop under $18 in a month or two.

In spite of the inevitable correction of this too-fast run up, it is very encouraging to see the growth of the bitcoin economy. Do you think it is exponential?

growing too fast and leading to a bubble that eventually pop would do more to shatter the confidence in this currency than the good it would do short term...

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