Among the factors which may have contributed to this rise were the European sovereign-debt crisis – particularly the 2012–2013 Cypriot financial crisis – statements by FinCEN improving the currency's legal standing, and rising media and Internet interest.[132][133][134][135]
Until 2013, almost all market with bitcoins were in United States dollars (US$).[136][137][138]
As the market valuation of the total stock of bitcoins approached US$1 billion, some commentators called bitcoin prices a bubble.[139][140][141] In early April 2013, the price per bitcoin dropped from $266 to around $50 and then rose to around $100. Over two weeks starting late June 2013 the price dropped steadily to $70. The price began to recover, peaking once again on 1 October at $140. On 2 October, The Silk Road was seized by the FBI. This seizure caused a flash crash to $110. The price quickly rebounded, returning to $200 several weeks later.[142] The latest run went from $200 on 3 November to $900 on 18 November.[143] Bitcoin passed US$1,000 on 28 November 2013 at Mt. Gox.