After a long decline bitcoin is on the rise again. The price of digital currency rose to $250, but then fell back to $249.

According to Coindesk Bitcoin Price Index, the price of the digital currency went up from $244 to $250 yesterday morning. At the moment, it fluctuates around $251.

On Bitfinex exchange bitcoin surged to $252, while on BTC-e bitcoin exchange the price remained below $250. At 03:00 UTC one could buy one bitcoin there only for $247.

The price of the digital currency began declining in August after the block size debate had intensified. A problematic letter from somebody who claimed to be Satoshi Nakamoto as well as statements made by the industry leaders led to a significant drop in price.

In the middle of the month, bitcoin collapsed from $256 to $209, giving a new base for the old speculation about the direct connection between bitcoin and oil prices.

After the industry leaders made their declarations, bitcoin began compensating the losses. It reached $240 by 8 September, but then fell again to $219.

In the middle of September bitcoin regained positions and reached the mark of $230. It fluctuated around this level for several weeks, and resumed rising after 21 September. Now it is back to $250.

Roman Korizky