The USD price of a bitcoin increased ten-fold in early 2013 from $13 on 1 January to $190 on 9 April, three months later. 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.[53][54][55][56]
As the market valuation of the total stock of Bitcoins approached $1 billion USD, some commentators called Bitcoin prices a bubble.[57][58][59] In early April 2013, the price per bitcoin dropped from $266 to around $50 and then rose to stabilize around $100 over the succeeding several weeks.[60]
