Despite its problems with scalability, which has led some to now complain of fees in the $13 range or $26, bitcoin’s price continues to increase, rising above $2,500 today after what appears to have been a a downwards correction from an all-time high of $2,800.
Its rise is probably mainly due to speculation, in particular by the Japanese where bitcoin trading has been added to z.com, which claims to be one of the world’s largest foreign exchange platform, in a move made after Japan declared bitcoin to be legal tender. That declaration was made soon after China cut-off bitcoin exchanges in its own country, giving the market to its neighbours, Japan and South Korea, which have gladely taken the opportunity to participate in a booming industry.