Not being fluent in the ins and outs of bitcoin: what is driving this? Is it pure speculation? Are more people trying to get in on the BTC wagon (riding the Cyprus wave)?
There doesn't seem to be any evidence that (in the world of BTC) the Cyprus situation has triggered anything other than rampant speculation by non-cypriot libertarians who already distrust central banks and now have a boogeyman to point at.
Nobody really knows. The common thought is that as more merchants start accepting BTC, it becomes more viable as a stand-alone currency and therefore more valuable. Facts seem to contradict this theory as 40% overnight growth cannot represent a 40% growth in the BTC economy. Thus either we undervalued BTC all along, or it is against bubble.
