--- title: Bitcoin Prices Are Surging Again Amid Global Uncertainty description: In the aftermath of chaos from Brexit and the election of Donald Trump, Bitcoin's value has surged up near $1,000 to the U.S. dollar, compared to $400 early in 2016. authors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2016-12-28T18:30:10.000Z' modified: '2024-05-16T12:07:14.000Z' section: Investing tags: - Bitcoin - Currency - Donald Trump - trump word_count: 363 canonical: https://money.com/bitcoin-value-donald-trump-brexit-1000-dollars/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Dark chalkboard with a bitcoin and dollar illustration.](https://img.money.com/2016/12/162812_em_bitcoin.jpg) Recent predictions that the value of Bitcoin would skyrocket as Donald Trump takes over the presidency appear to be coming true—weeks before the change in administration even happens. In its annual [Outrageous Predictions](https://s3.amazonaws.com/storage.saxobank.com/TradingFloor/2017-Outrageous-Predictions.pdf) report, the Danish firm Saxo Bank stated that America's expected spending binge in 2017 and beyond by the Trump administration will cause “U.S. growth and inflation to sky rocket, forcing the Federal Reserve to accelerate its hikes and the USD dollar to hit the moon.” As a result, Russia, China, and other emerging markets could likely shift away from mainstream banking options, and Bitcoin, the alternative virtual currency, could emerge as newly valuable amid the chaos. “We could see Bitcoin easily triple over the next year going from the current $700 level to +$2,100,” Saxo Bank researchers wrote a few weeks ago. Since then, Bitcoin's value has positively soared. As of Wednesday, a unit of Bitcoin was trading for around $950, according to the exchange-tracking site [CoinDesk](http://www.coindesk.com/price/). The price of Bitcoin hasn't been this high since November 2013, when it was trading for $979. Bear in mind, however, that as we've previously reported, economists have criticized the unregulated digital currency as a "loaded roulette wheel," and even "evil." Bitcoin is certainly prone to wild fluctuations: Roughly a year after reaching a record high in the fall of 2013, Bitcoin had lost more than half its value and was [trading below $300](https://money.com/why-bitcoin-fans-dont-believe-in-bad-news/). One unit of Bitcoin was worth only $400 to $450 throughout the first five months of 2016—meaning it has more than doubled in a few short months. While uncertainty [following Brexit](https://money.com/brexit-british-pound-dollar/) and the election of Donald Trump are undoubtedly contributing to Bitcoin's amazing rise, the currency's value is simply a result of how much it is perceived to be worth—now, and more importantly, down the road. Lately, it looks like Bitcoin's value is increasing essentially because people *think that its value will keep increasing* in the future. "The media continues to speculate what the reasons for the rise might be, but enthusiasts already know," Mati Greenspan, a senior market analyst at trading platform eToro, explained to [Business Insider](http://www.businessinsider.com/bitcoin-price-rises-against-the-dollar-on-december-28-2016-12) on Wednesday. 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