Alternative currencies have been around since the barter system. But now the world’s most widely used digital currency is making some observers ask if the time is right for monetary disruption.

The price for the online currency bitcoin has been spiking recently, according to CNBC. In January a bitcoin could be had for less than $200, but this week the price jumped above $400 on the CoinDesk Bitcoin Price Index. The currency trading firm Genesis Global Trading reported significantly increased activity in recent bitcoin trading. Trading volume from China has been especially notable, with recent interest that is “off the charts,” according to Genesis CEO Brendan O’Connor.

Still, the historical high for bitcoin was much higher than the current price, at around $1,150.

Some analysts say that the jump for bitcoin is the result of recent favorable regulatory rulings, press reports and investments that spurred interest in digital currencies. The spike in bitcoin began about a month ago, starting when trading in bitcoin hovered around $240.

Mainstream financial giants including Bain and Mastercard have made recent investments in the digital currency sector.  Cameron and Tyler Winklevoss of Winklevoss Capital and Facebook fame recently launched a bitcoin exchange that they say intends to become “the Nasdeq of Bitcoin,” adding to the currency’s cachet.

In addition, some experts say the price jump is supported by investors who simply act on the “fear of losing out.”

Still, some say even the recent events don’t explain such a swift, rapid increase in the trading price for the currency. By comparison, trading in gold has been down over the past month and is about 5 percent lower for the year.

Bitcoin’s price against major currencies has tended to fluctuate historically. Some bitcoin insiders say that a focus on the daily price changes is simply a distraction from the bigger picture issues around the currencies potential to disrupt the economic system more broadly.