My prediction is at $1,200.
I still believe that the current dip (due to the Baidu news) is only temporary. What is important is that the Bitcoins are getting a lot of (negative) publicity right now.... and more people than ever have heard about it. We will soon see a steady stream of new bitcoiners, buying $100 to $10,000 worth of BTCs at a time.
I disagree.
Just because people hear of it, doesn't mean they'll jump right in and buy into it.
I've been telling people about bit coin for the last 9 months - dozens and dozens of people - not a single person bought into it.
I think the majority if people are like this. And will be so for a long time yet.
I agree with what you said. New people are not stupid. They are not going to buy $1000 dollar bitcoins or $500 dollar bitcions, when they were just $13 earlier in the year. It yells Ponzi scheme and scam all over it.
Even when they were reasonably priced, nobody I mentioned them to wanted to buy them.
Another reason is that it takes a lot of research and tech skills to actually buy them, most people are too lazy and not technical enough to actually buy bitcoins. Lets not even get into dealing with the corrupt exchanges and all the verification you have to do.
