Bitcoin rises for 7 consecutive weeks and is about to turn around

     Bitcoin prices soared further in the Asian session on Tuesday (November 3), approaching the $380 level.

The quotes released by BITSTAMP show that Bitcoin/US dollar (XBT/USD) rose from around 320 to 340 yesterday, and then continued to soar and approached the 380 level in the Asian session of this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/Euro (XBT/EUR) rose from around 290 to 305 yesterday, and then rose further and rose above 330 in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by Huobi.com show that Bitcoin/ RMB ( 6.3361 , -0.0009 , -0.01% ) rose from around 2151 to 2275 yesterday, and then continued to soar and rose to 2525 in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

2015 may be the year of Bitcoin's comeback. The price of Bitcoin hit a new high of around $370 in early trading on Monday, and has continued to trade strongly since then.

Bitcoin prices have risen sharply in the past two months, and have risen nearly 70% since hitting a low of $213 in the second half of the year at the end of August.

Still, the current rally is not enough to comfort investors who bought in the “golden year” of bitcoin in early 2014, when the price of a single bitcoin was well over $1,100.

Now, after seven consecutive weeks of gains, the price of Bitcoin has reached around $380.

     At 13:30 Beijing time on November 3, Bitcoin/USD was 376.66, Bitcoin/Euro was 331.83, and Bitcoin/RMB was 2517.50.