The price of bitcoin went up to $1000+ dollars ion late 2013 and there's no reason why it couldn't go there or possibly even higher again.
I hate to say this, but the peak price of $1,200 per coin reached in 2013 December was purely due to price manipulation by the Mt Gox guys. That's why the Mt Gox - Btc-e price spread reached as much as $150 during that time. So unfortunately, we can't say that BTC will reach $1,200 again, by quoting the December 2013 prices.