Right now it is $578 as I write and it seems to move past and then, annoyingly, dips back below $580 daily at the moment. 

There are many theories about both the resistance that we are seeing to the $600 barrier being broken and the general bouyancy of the Bitcoin price altogether but let's face it, for what seemed like an absolute age it hovered around $450 so the current trend is very positive indeed.

My own view is that pressure to push the price up is a combination of the approaching Bitcoin block halving and a massive increase in interest in cryptocurrency generally (especially because of the interest surrounding Ethereum).

The downward pressure (the resistance factor) is being driven by the uncertainty surrounding what follows halving and the yet to be resolved issue of blockchain transaction size. That debate appears to be moving towards a resolution but it has been raging for months now, in fact, over a year.

Will they increase block transaction size capability? And what does this mean to us? Who knows and frankly it means very little to us because there are good arguments to both sides of the debate and both should lead to an increasing Bitcoin price.

So why is it such a big deal. I do not really know for certain and can only speculate along with the rest of us but to get a feel for the debate the Wiki article I have linked to at the end of this piece should be useful to you. 

It seems to me mostly a debate between purists who want Bitcoin to remain a little aloof and slightly inaccessible and special; and pragmatists who see Bitcoin/Blockchain becoming a bigger and bigger part of Worldwide finance. They, accordingly, think the rate and pace that Blockchain can deal with transactions is critical.

As you will see if you follow the link to the article recommended under "10 Good Reasons To Buy Bitcoin Now" there is a temporary fix upgrade coming soon that moves this disputed development forward. But read the Wiki article first to get the big picture about the never ending block size debate.

I have been listening to that particular debate for almost 3 years now. Two of those years were spent on the outside of Bitcoin and it is only in the last year that I have become a Bitcoin owner/investor.

Whatever happens now I have done well out of Bitcoin and cannot complain and when you are into an organisation that mines Bitcoin daily it is a nice feeling especially when you see the Bitcoin price go up.

When I first joined BCN, Bitcoin was around $250 to $280 in value. Today it is $578. 

I can't complain obviously and I very much believe that the value will continue to increase. But then you'd expect me to say that wouldn't you...

Take a look at the article below and you will get another's view as to why the value of Bitcoin will increase. 

Henry Brade is a Bitcoin enthusiast and entrepreneur. He has put his money where his mouth is consistently and I have a lot of respect for his opinion. I hope you enjoy his article.

I thought this video snippet might interest you.