Topic: 5 digits before the end of the year. (Read 8778 times)

I like this kinda talk makes me feel the next level eg 1K + is going to happen.

I love coming back to these type of threads to see either some people's arrogance, or ignorance on the Bitcoin price. It's forever changing and extremely hard to predict. Feel sorry for the ones investing back at the 500 range who are feeling a 50% reduction hit in their investment portfolio. Others are probably loosing a lot more.

How did that investment work out for you, Ibian?

i think one of the biggest reasons people are selling more now and that we didnt keep getting higher after 1k (or in fact see any rally in 2014) was because we didnt get a wave of new buyers in to meet building selling pressure. i think it was widely expected that after china, another couple of big territories would come along to keep the momentum, sadly not...yet.

prices in the 6k ~ 10k range are not impossible. just think of the ratio of people who have not yet bought btc compared to those that have. in other words if the small amount of world market penetration / adoption that weve reached so far can get us to 1k, what will it look like when market saturation is reached (when nearly everyone has bought some btc)?

i bet youll say, yes but that also means more selling: relatively that is not necessarily true. now we dont have many means to solely live using btc... but as the eco system develops there will be less reason to sell - because theyll be more and more ways to use btc (using is not same as selling. these days it seems like it cos of merchant dumps).

anyway, were in an awkward time right now of very lttle mass/mainstream adoption (and lack of new territory momentum) + merchant dumping + lack of solid infrastructure. not a good time to fairly call a price.

Yes more of these should be brought back. Just stupid people throwing out crazy numbers which make no sense and are totally unsustainable.

I was like the only one posting that the prices were outright crazy and not sustainable.

I mean 5K or 6K a bitcoin. It would have taken a lot of bitcoin holders to hold and not sell. This is why it took so long for the price to fall, too many people had this 5K 40K bitcoin in their mind. Outright ludicrous and delusional.

It is as if people just didn't think it through. The only thing that still baffles me is how long it held above $800 before falling. I would think people would quickly cash out. I guess it was because of the long length of time it takes to get your money out of the exchange.

Now that more people probably are members of multiple exchanges, they can get their bit coins and money quick into the system and take advantage of ridiculous price hikes and cause spikes to happen far less.

Ha ha...
This was one prediction that was way off. 

Gox, China, Bitstamp, Russia.....

+1

Every bubble reached an ATH in approx 30 days.
But then again I don't see a ramp up yet.

what year

lots of people are saying lots of number.

which to believe?

i have a delicious apple tree. 
every year i get 1000 delicious apples. 
i spend $200 to maintain the tree. 
each apple costs me $0.20. 
my apples are selling for $2 now. 
by the end of the year they will cost $200
next year $20,000

Hope is always the last to die...

Never say never, 30 days left.

This thread has really brought it home to me how much sentiment has changed over the last six months. It would be nice if things turned on their head in another six months.

Bitcoin will be at 5 digits by the end of the year! 2 of them on the right of the decimal point.

*glances at the price. Erm.

Being wrong by 20% is acceptable, although it might lead to massive losses when trading.
Being wrong by over an order of magnitude means the OP and others who agreed with him are delusional.

OP didnt say what year, obviously he means 2015 cut him some slack 

HOW VERY DARE YOU POST ON THIS INTERNET OF MINE AFTER HAVING PREVIOUSLY POSTED AN OPINION THAT HAS BEEN PROVEN WRONG!

Nobody *ever* does that.

Be kind to grampa #1, he's senile a mature, respected member of this community.

Have you noticed many people on this forum with any dignity? It mostly seems to be childish mud slinging, dick jokes and misogyny.

yep, it is also made by 31 days so a bit more likely it's going to happen than November  

How do you have dignity to write on this forum after this?

Well, maybe December will be better 

That's what I feel as well, everyone is starting to look at bitcoin with a it more seriousness, when one of the huge companies decides to dive in, more will follow

i said this when it hit $30 the second time.  shortly after is when it began its run up to $1000

I'm not arguing your opinion on $1500 this year (although I believe it will be higher) but I don't find your comments too convincing.
You are correct in assuming there is possible fraudulent behaviour in bitcoin land, we all know it's being manipulated by people with loads of money.

That said:
Is it me or was China the main driver of the last ATH (and ATL)?
Is it me or did Gox only crumble after we hit the bear market and people wanted to go fiat and it wasn't there?
Do you really think America is the main driver of bitcoin?
Why do you think America will be able to "overregulate" it?
If the USD economy blows out do you think most will go for bitcoin? Why not EUR, CNY or RUR?

In my opinion all the bad news events are relatively normal for growth. Looking at the graphs this cycle wasn't much different than other years.

I think you are right on. Never forget, all bitcoin holders were Goxxed. That $1,100+ ATH was artificially inflated...and imo I think the $700 range is what the ATH *should* have been without that whole mess. I could see $1600 as the new ATH this year but once it creeps up to the $900-1,000 range a lot of people will probably sell off and figure another dip will come and buy back in lower once that happens. If the past is any indicator expect resistance, corrections, and of course, lots of despair.

Unless a protocol flaw is discovered or the US drops a bomb with overregulation, I can't imagine prices going under $500 USD again - ever. I only think 5 digits is possible this year if there is a large stock market correction and/or a loss of faith in the USD/economy - but even then it'd be a long shot due to many factors. Henry Paulson warned congress there'd be martial law if they didn't get the 08' bailout - and I think I read after that they got the power to not even need to go to congress in the future when an emergency happens. I just don't see "them" allowing it to come that close ever again...and for damn good reason.

I don't see it hitting 5 figures by the end of this year. In-fact I don't think it will go over 1500 in this year.

Completely disagree. The potential for great returns and speculation volatility is what is driving adoption and awareness at this stage. At every bubble new players hear about bitcoin because of the price, get excited and start researching and using btc. Some disappear when the bubble pops, but now millions stay connected. Setting the stage for real usage, trust and the next bubble. This is how bitcoin grows- at least right now. Don't fear the "craziness". Bitcoin is strong, fundamentally sound and can handle the wild speculations. Enjoy the ride.

I think likely $5K
Strong possible: $7K
Unlikely $10K

I don't see it happening. Five grand tops, and I think that even is unrealistic.

...really big money looking at us right now.
We are being checked out by a herd of whales much bigger than any we have seen before:

All the important BTC indicators are pointed Up.  

Why most of the people are sure that when th price hit 5 digits then it will go back to normal ? I think if it goes to 20000$ it will dip not less but 5000$.
BR

btc is going over 10k its just a question of when 1~2 years likely, 3 years almost definite.

5 digits before the end of 2014 is very unlikely, eventually in the following years bitcoin will be valued 10.000$ and more, but not so early.
I won't bet anything btw 

If Kibble will step up to the challange

Still want to do this? It's been quite for a while.

We will be facing a lot of that all along too. There are traders who are getting in a out but the flipside of it is that the price will be more stable and that is good for BTC in the long term.

I just hope BTC stays stable and grows to about $1000 this year. Any type of major craziness will scare off traders and users alike.

Let's see it on bitbet.us

It's really win-win.

bitcoinity.org is not an exchange (it can be used to track exchanges, but you'd have to specify which one), it's not unambigious. Also, how will we settle the bet? We all send coins to a reliable forum member who will send the bitcoins to the winner(s)?

Ok so far we have:
zimmah: .5BTC
elianite: .5BTC

The terms are: The price on bitcoinaverage.com does not go above $1,000 USD between 5/25/14 and 12/31/14 at 23:59 UTC.  In the case where bitcoinaverage.com does not exist at the end of the bet, bitcoinity.org will be used. 

And yet, last time we zoomed right by $266 like it didn't exist.

Bitcoin has by definition only ONE important digit: one bit is either 1 or 0. That means you either have one or none. THAT is the essential thing about bitcoin

We'll hit $1000 in July.

i agree to this terms, we'd need to find a reliable escrow though i think.

https://bitcointalksearch.org/user/psychoticboy-54752 maybe?

http://bitbet.us/

http://bitbet.us/bet/635/1btc-10-000-usd/

or write a claim for your bet.

I bet ANYONE 10 BTC, bitcoin will break the $1000 again THIS YEAR.

me and zimmah will both pool 0.5 to bet 1btc against kibble; kibble bet 1btc against us and we can set this up

Depends on timeline, if $40,000 is reached quicly, like in one year, selling makes sence. Hopefully it will take at least 5 years of developments to get there, not just quick bubble speculation

Can I also accept this deal for 0.5 bitcoin? I'd like myself some free money.

Can i get in on this? Not betting quite 2btc, but i could throw in some against kibble

I have the feeling we're going to push towards the ATH, if for no other reason than people manipulating the market to make it happen just to show that Bitcoin is "healthy." I think if we didn't hit the ATH in the next year (or, really, much less than that) it may cause the value to stop dropping because it's going to be a sign that the Bitcoin bubble, as a whole, has burst.

Im not even convinced of this rally yet. But, if it does test the ATH, I tend to agree with you here. There is a lot more money at stake now than in the early 2013 bubble or the 2011 bubble. But also, if we dont break the ATH in the next year and dont keep up pace with the 2013 bubbles, what effect do you think that will have on people that are currently bullish in the market?

Due to how long it has taken us to get back to the previous ATH, a lot of people are going to dump when we're near/at it again. This is going to create a ton of resistance. People are going to be afraid that as soon as we get to 1.2k again it'll drop and will want to exit before that happens.

I think we are definitely going to maintain bitcoin's long term history of..... UP......but I think 5 figures is pretty optimistic, just thinking about the last bubble and the way it fizzled out after only what, less than 5x the previous ATH? I wonder if the next bubble will be bigger than that....

$40,000 a coin means bitcoin is clearly doing something right. If anything that should be more incentive to stay IN, and like another forum member has stated, just rebalance your portfolio or take a percentage rake (look up SSS Simple and Sane Savings plan for Bitcoin).

Not who, what. 

http://en.wikipedia.org/wiki/Chestnut_%28joke%29


Old, stale, hackneyed.

Like the question of when bitcoins first reach $10,000.00.

I'm pretty certain that we'll reach our previous ATH. I'm thinking we might hit 1.5k. But 5 figures? That's a bit of a stretch at this point.

I'll do up to 2BTC.  The price on bitcoinaverage.com does not go above $1,000 USD between now and 12/31/14 at 23:59 UTC.  Deal? 

Possible, but I'm still in the 4-figure camp personally. 

Looking at the last two run-ups, we still haven't seen anything like 2011. Does that mean we should expect a 20x move from here? Maybe the bubbles will get smaller and smaller, but keeping a steady upwards trend long term...

Why would you ever trade away all your Bitcoins? Just re-balance your portfolio.

I am super bullish on Bitcoin long term, but I agree that $1,000 is feeling a lot more iffy than it was in January.

-B-

Five figures would be jolly surprising. I think we'd need some actual pros involved in the market infrastructure to sustain that. Good job it looks like they're on their way. Anything upwards from here is fine by me.

who is chestnut?

Yes we can have a $20,000 bitcoin but at that point a soda will cost $500  .. if there are a really massive adoption, we can reach ATH as far as 50,000

thats crazy talk!!!

how much you wana bet?

There's no way it's five digits unless there's a decimal in between there somewhere. 
I'll predict we don't break $1,000 this year, any takers?

This old chestnut again?

I'll say the same as I did 6 months ago or a month ago.

We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.

We should be above $10,000 for good by this time next year.

Unless something comes along to break Bitcoin before then.

If we reach $40K, I'm out And I do think $10K is possible this year.

I think the chances of reaching 10k this year are low, but not zero. I'd say about 1.5%

That being said i am pretty sure we will see 2000~2500 at the end of the year, as we'll definitely go in a dip after the run, and the run will most likely be summer or fall, and be definitely over by winter.

The only way we are still at 5 digits at the end of the year is if we go into a double run (which happened in 2011 IIRC) and only dip back once by the end of the year. In that case we could even see prices close to 40k during fall. Although the chances of that happening are probably below 1%

Its nothing out of the posibilities, with bitcoin all is possible, i rembember last year i and almost everybody expecting the litecoin to go to 5 dollars ( when it was 2) and 5 dollars was like the dream price but then it go to 20 and finally +30 dollars!

Putting my head on the block. I see people talking about 3-6k, and from what I gather predictions for the big jumps tend to be too low. That plus really big money looking at us right now.