What is the Reason for increase of the Bitcoin?
This is due to the very high demand of bitcoin in the market with respect to the supply available. I believed that this event was greatly influenced by the announcement of Japan that they will accept bitcoin as a mode of payment and this was last April 2017. Followed by Russia, then the most current is the announcement of Australia. Announcing such acceptance surely brings huge number of new users, thus, increasing the demand for bitcoin tremendously.