Panic is going through traders at Bitfinex as they are converting their fiat to BTC to withdraw them, which directly explains the price that has gone up there. In that regard, I wouldn't be surprised to see this result in the price to reach $1300, but it won't have much value since it's not happening naturally. It's pure fear that drives the price at Bitfinex - fear that Bitfinex is turning into another MtGox as the similarities are definitely there.