From all the news posts W130SN keeps citing, it's becoming clear that Bitcoin is actually approaching the point where it's "too big to fail." Euphoria is setting in as it has cracked the $1000 point of value, but the upshot is it appears BTC is still at the bottom of its climb in value (or put another way, in showing the collapse in value of the dollar and other traditional fiat currencies, due to inflation and quantitative easing).
IAW, it's not so much Bitcoin is climbing, as it is the dollar is crashing. Panic is setting in among the banks and bureaucracies, because the independent currency is transparently exposing the drop in value of the regulated currencies. Unlike with precious metals, that the regulators have learned how to stem their rise (and thereby protect the dollar) by hoarding the bars, then mass selling them to defeat a gold or silver rally, crypto-currency cannot be efficiently bottle necked.
The establishment has no control of this emerging major currency, and the establishment financial media articles reflect they are freaking out over it. The little people will be able to trade without the state being able to track it, and without Wall Street getting a cut (interest, loan fees, etc) or being able to create a derivative out of it. Oh heavens! Freedom, democracy and privacy has returned to exchange. What will control freak monopolists to do now?
Here's a breakdown estimating that the value of BTC can reach $3,000,000:
http://bitcoin.stackexchange.com/questions/6088/what-is-the-maximal-value-of-1-btc