This is the highest it is going to get for awhile. It cannot be sustained above 1.10 for too long. I recommend you sell and profit while you still can. There hasn't been that big of an increase in adoption since the inception of this rally.
That's a lot of statements of fact. On what data are you basing your analysis?
The only thing(s) required for a sustained increase in the price of Bitcoins (relative to the dollar) is an increase in the demand for Bitcoins, decrease in the demand for the dollar, or increase in supply of the dollar.
I think you guys are putting way too many factors into play. This is not due to dollar weakening or oil price spikes. Almost all of this rise is due to speculation. BitCoins are not terribly useful right now to most people. There is pretty much very little reason to buy them with cash in terms of being useful. It's all about people who think they *might* be useful in the future. The BitCoin economy is super small. 6 million bitcoins at $1.15 each is nothing but a drop in the bucket. If even one minor industry started even having one minor player start use bitcoins heavily, the value skyrockets. Why? Because there aren't enough compared to the amount of cash people need to inject into it.
But since its all speculative, it requires people absorbing the supply being mined each day and then sold. So far, it's been happening. You could buy out all the supply of mtgox for under $50k. That's a tiny market. There are speculators right now buying stuff, but not too much to rise the price too much.
No one is buying to hedge against 15% increases in energy prices or 15% falls in the dollar. People are gambling that their $100 or $1000 they put into BitCoin turns out to be a 20x investment or more. And if one valid use pops up, 20x will be the minimum.
