And Bitcoin pushed itself above $800 in value!

Will it stay there? We can't know for sure but, if you ignore the China driven spike of late 2013 (and you should) this is the highest Bitcoin has been. Why should you ignore that 2013 spike? Simply because it was a price spike in a very immature market at a time when Bitcoin acceptance and use was far too low to count for anything real.

On the run-up to that spike, up until November 2013, Bitcoin had never exceeded a value of $200. In fact, right up until April 2013, it had never exceeded $100. That spike, it is largely believed, was caused by a mass interest in buying Bitcoin suddenly in China owing to fears of the Crypto being banned by the Government there. 

Back when it spiked to over $1,000 a few large Bitcoin "hoarders" selling their hoard was enough to create the market Tsunami that saw price plunge from those dizzy $1,000 plus heights to less than a $100 briefly. 

The take up of Bitcoin since January 2015 and the investment in Bitcoin infrastructure since then has changed the dynamic completely.

Now the distribution of Bitcoin wealth is far wider and greater and, although there are still, undoubtedly, a few individuals or groups with large Bitcoin pots, there are fewer that could or would have such an impact on the market were they suddenly active.

If we look at the charts (and you can look at this yourself by going to Coindesk (link below directly to charts) you see that there was a crazy spike in late 2013 and since the plunge that followed fully subsided in early 2015, the path has been a steady progressive walk up the hill.

I have separated two periods from the Coindesk graphic below. These clearly isolate the spike and show you what has been happening with Bitcoin price since the beginning of January 2015. And it makes for very encouraging viewing.