There are lots of geo political reasons for increase in price of bitcoin.Main reason is mass adoption of bitcoins taking place all over the world.Japan accepting bitcoin legally is also a main reason.Australia announcing the end of double taxation from july 1st,China and Russia starting to regulate bitcoins instead of banning might be the other reasons.People from countries suffering from economic crisis find bitcoins as their only hope to invest.More companies are coming forward to provide their services accepting bitcoin payment.Such reasons have created a combined impact on the price of bitcoin.