Next BTC price spike due to what...?

chessnut

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Quote from: Cygnify on February 10, 2014, 12:40:34 AM

It seems to me the sentiment has changed a lot! I wasn't around at the start of 2013, got into bitcoin mid 2013. But I believe that most people speculating on the price in early 2013 would not have been thinkings numbers anywhere near $1000 at the end of the year and they would have been laughed at or ridiculed if they did mention it.

Now every second person talks of $10000 like a real possibility end of 2014, in a way does that mean that number is conservative? Haha not to sure about the last part, but it is interesting.

when I invested in october, I was hoping for $500 BTC by july 2014..... lol
sentiment of 10k bitcoin either means we will significantly exceed that number, or that we will not approach it (any time soon)
Honestly, I think it means the latter. but hey, shits about to hit the fan all over the world. who knows.

Cygnify

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It seems to me the sentiment has changed a lot! I wasn't around at the start of 2013, got into bitcoin mid 2013. But I believe that most people speculating on the price in early 2013 would not have been thinking numbers anywhere near $1000 at the end of the year and they would have been laughed at or ridiculed if they did mention it.

Now every second person talks of $10000 like a real possibility end of 2014, in a way does that mean that number is conservative? Haha not to sure about the last part, but it is interesting.

chessnut

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Quote from: Mikcik on February 09, 2014, 09:33:13 AM

It has been adressed already probably, but not fully.
What do you think, will be the reason for another BIG price swings, i mean getting bitcoin to say 5000 or 10 000 USD per 1 BTC.
Im slowly worried that it wont be reached this year. The price rose from 120 i think to 1100 mainly and only due to china... thats almost 1000 USD in nominal terms, and it meant that the whole big IT positive country as china moved into bitcoin... Im really worried that such big event may not appear in the near future... And if bitcoin wants to reach 5000 or 10 000 this year i really belive that there should be some big event pushing it up. Even without the event i belive bitcoin can make it to the 10 000 but it will be a long and steady road, for year, 2,3...

I think that even wallmart announcing acceptance or amazon wont be enough to push it to the 5000 not speaking about 10 000. Be realist poeple i dont care abotu logarythmic grow function or something... I took the whole great country of china to rise bitcoin by 1000... So if you want to rise it in a spike (and not over a long term) about 4000 you will need something really big...

I belive only some economic crashes would push the price so high...

whats your inteligent (!!!) take on this (not just "dude, it will get there, i FEEL it)...

I think that the technology of bitcoin will not support a price of 10k until 2015.
but I do think that when the stock bubble pops, market cap of 500billion is chump change, there are few exits, and they will all be used.
also, if the market cap was boosted by speculators to 500B, that would accelerate the adoption of its use.
every day smart investors are learning about bitcoin, many will come to understand it fully, and will no doubt buy some.
Fun facts, there are 1500 billionaires in the world. there are 12 million millionaires in the world. millionaires have on average 3 million each. billionaires have a net worth of 90 trillion.
10k bitcoin will come easily.

windjc

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Quote from: BittBurger on February 10, 2014, 12:03:39 AM

Quote from: Mikcik on February 09, 2014, 09:33:13 AM

It has been adressed already probably, but not fully.
What do you think, will be the reason for another BIG price swings, i mean getting bitcoin to say 5000 or 10 000 USD per 1 BTC.
Im slowly worried that it wont be reached this year. The price rose from 120 i think to 1100 mainly and only due to china... thats almost 1000 USD in nominal terms, and it meant that the whole big IT positive country as china moved into bitcoin... Im really worried that such big event may not appear in the near future... And if bitcoin wants to reach 5000 or 10 000 this year i really belive that there should be some big event pushing it up. Even without the event i belive bitcoin can make it to the 10 000 but it will be a long and steady road, for year, 2,3...

I think that even wallmart announcing acceptance or amazon wont be enough to push it to the 5000 not speaking about 10 000. Be realist poeple i dont care abotu logarythmic grow function or something... I took the whole great country of china to rise bitcoin by 1000... So if you want to rise it in a spike (and not over a long term) about 4000 you will need something really big...

I belive only some economic crashes would push the price so high...

whats your inteligent (!!!) take on this (not just "dude, it will get there, i FEEL it)...

Price increases don't necessarily have to happen in spikes. A healthy ecosystem sees gains gradually.
According to Andreas Antonopoulos, the spike that occurred when China got on board resulted in literally "hundreds and hundreds" of startups being formed. They are all currently in the formation stages, regulation stages, and funding stages. It is expected that they will begin providing their innovative services tied to the Bitcoin protocol by Q2 of 2014. According to Second Market, Wall Street is also about to pour "hundreds of millions" into the Bitcoin economy sometime between Q1 and Q3. This may not mean another instantaneous spike. I may not be (literally) sitting at dinner, and watching my portfolio value go up by tens of thousands of dollars in between bites of my food like last time .... but there's every reason to believe BTC will hit $5,000 or $10,000 by the end of 2014.

-B-

Yes, but regulators and lawyers move slow. So while the market is there to be tapped, I think it will be a little longer than we would like (2015) to see the heavy affects of these things.

windjc

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Quote from: Rawted on February 10, 2014, 12:15:36 AM

Lots of transactions happening off the exchanges. Large players are getting involved, and when that private well of coins dries up, the surge will be immeasurable.

I think this will be a big factor ONE DAY. Not sure when, I think we are a ways off. If there were 20-50 "SecondMarkets" across the globe buying up bitcoins for wealthy or well-to-do clients, the private well of bitcoins would dry up pretty damn fast. But we might be a couple/few years off from that.

Rawted

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Lots of transactions happening off the exchanges. Large players are getting involved, and when that private well of coins dries up, the surge will be immeasurable.

BittBurger

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Quote from: Mikcik on February 09, 2014, 09:33:13 AM

It has been adressed already probably, but not fully.
What do you think, will be the reason for another BIG price swings, i mean getting bitcoin to say 5000 or 10 000 USD per 1 BTC.
Im slowly worried that it wont be reached this year. The price rose from 120 i think to 1100 mainly and only due to china... thats almost 1000 USD in nominal terms, and it meant that the whole big IT positive country as china moved into bitcoin... Im really worried that such big event may not appear in the near future... And if bitcoin wants to reach 5000 or 10 000 this year i really belive that there should be some big event pushing it up. Even without the event i belive bitcoin can make it to the 10 000 but it will be a long and steady road, for year, 2,3...

I think that even wallmart announcing acceptance or amazon wont be enough to push it to the 5000 not speaking about 10 000. Be realist poeple i dont care abotu logarythmic grow function or something... I took the whole great country of china to rise bitcoin by 1000... So if you want to rise it in a spike (and not over a long term) about 4000 you will need something really big...

I belive only some economic crashes would push the price so high...

whats your inteligent (!!!) take on this (not just "dude, it will get there, i FEEL it)...

Price increases don't necessarily have to happen in spikes. A healthy ecosystem sees gains gradually.
According to Andreas Antonopoulos, the spike that occurred when China got on board resulted in literally "hundreds and hundreds" of startups being formed. They are all currently in the formation stages, regulation stages, and funding stages. It is expected that they will begin providing their innovative services tied to the Bitcoin protocol by Q2 of 2014. According to Second Market, Wall Street is also about to pour "hundreds of millions" into the Bitcoin economy sometime between Q1 and Q3. This may not mean another instantaneous spike. I may not be (literally) sitting at dinner, and watching my portfolio value go up by tens of thousands of dollars in between bites of my food like last time .... but there's every reason to believe BTC will hit $5,000 or $10,000 by the end of 2014.

-B-

strawbs

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When established fiat exchanges begin to facilitate fiat/bitcoin exchange

Siegfried

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Wall Street.

Tripjammer

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Quote from: billyjoeallen on February 09, 2014, 10:59:45 AM

Quote from: BitcoinAshley on February 09, 2014, 10:42:53 AM

Quote from: gnode on February 09, 2014, 10:38:17 AM

An exchange in the US will send btc to $10000. A lot of people want to buy and sell bitcoin but are afraid of offshore exchanges especially with the recent bad publicity on Mt. Gox.

You mean like CampBX? There's BEEN a FINCEN-certified exchange in the U.S. for over a year, it has multiple withdraw and deposit methods, people just don't use it. I'm not saying they're perfect - the GUI is balls and the customer service is slow, but they're not run by anonymous South African hackers and yes they have necessary regulatory clearance.

No, it's gonna take another Cyprus to scare more whales into large BTC positions, and that won't happen anytime soon since the new "thing" is nationalizing pension/retirement funds - either directly as in Ireland, or tricking people into doing it voluntarily, as in MyRA.

Or the same Cypress again. There's at least a dozen countries on the edge of the toilet bowl right now. My guess is we'll see several fall in near the same time.

LOL. Here's a thought: Mark Karpeles becomes CEO of Apple Corp, the whole universe switches to Android immediately and Bitcoin hits $20,000 in a week!

BTW, MyRA money is as imaginary as my social security. It's another black hole.

You don't want the whole universe on one OS. We need apple in the game. It pushes google and Microsoft to be innovative.

gentlemand

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Welt Am Draht

Quote from: podyx on February 09, 2014, 11:01:24 AM

probably not even 0.01% of chinese paid attention to bitcoin
there is alot of room for growth

This.

It's easy to think the world is paying attention. A tiny fraction is, an even more minuscule amount actually put their money where their interest is. The rest just keep on obliviously rolling.

NamelessOne

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Second Market was also a big contributor to the climb during the Autumn/Fall months

podyx

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probably not even 0.01% of chinese paid attention to bitcoin
there is alot of room for growth

billyjoeallen

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Hide your women

Quote from: BitcoinAshley on February 09, 2014, 10:42:53 AM

Quote from: gnode on February 09, 2014, 10:38:17 AM

An exchange in the US will send btc to $10000. A lot of people want to buy and sell bitcoin but are afraid of offshore exchanges especially with the recent bad publicity on Mt. Gox.

You mean like CampBX? There's BEEN a FINCEN-certified exchange in the U.S. for over a year, it has multiple withdraw and deposit methods, people just don't use it. I'm not saying they're perfect - the GUI is balls and the customer service is slow, but they're not run by anonymous South African hackers and yes they have necessary regulatory clearance.

No, it's gonna take another Cyprus to scare more whales into large BTC positions, and that won't happen anytime soon since the new "thing" is nationalizing pension/retirement funds - either directly as in Ireland, or tricking people into doing it voluntarily, as in MyRA.

Or the same Cypress again. There's at least a dozen countries on the edge of the toilet bowl right now. My guess is we'll see several fall in near the same time.

LOL. Here's a thought: Mark Karpeles becomes CEO of Apple Corp, the whole universe switches to Android immediately and Bitcoin hits $20,000 in a week!

BTW, MyRA money is as imaginary as my social security. It's another black hole.

hellscabane

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I say temper expectations and let this grow more organically. Even though Bitcoin has some mainstream presence, it's really not as much as one would think. Maybe with more targeted growth, and even more improved infrastructure we can see significantly higher prices. But honestly, $10000 per BTC would mean the market cap of BTC would be over $120B and that's not an easy number to obtain. Sure lots more money than that exists, but when you get to those numbers stability is the key need. And I think we're at a point in time in which we're still far off from stability.

pietje

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Quote from: gnode on February 09, 2014, 10:38:17 AM

When an exchange in the US allows for trading in US dollars, btc will rocket to $10000. A lot of people want to buy and sell bitcoin but are afraid of offshore exchanges especially with the recent bad publicity on Mt. Gox.

BTW cryptsy has been working to get approval to allow USD/BTC trading. Maybe soon they will get the go ahead.

Which might happen sooner then you think.
http://www.coindesk.com/secondmarket-takes-first-step-to-becoming-us-exchange-with-new-seller-service/

BitcoinAshley

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Quote from: gnode on February 09, 2014, 10:38:17 AM

An exchange in the US will send btc to $10000. A lot of people want to buy and sell bitcoin but are afraid of offshore exchanges especially with the recent bad publicity on Mt. Gox.

You mean like CampBX? There's BEEN a FINCEN-certified exchange in the U.S. for over a year, it has multiple withdraw and deposit methods, people just don't use it. I'm not saying they're perfect - the GUI is balls and the customer service is slow, but they're not run by anonymous South African hackers and yes they have necessary regulatory clearance.

No, it's gonna take another Cyprus to scare more whales into large BTC positions, and that won't happen anytime soon since the new "thing" is nationalizing pension/retirement funds - either directly as in Ireland, or tricking people into doing it voluntarily, as in MyRA.

gnode

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When an exchange in the US allows for trading in US dollars, btc will rocket to $10000. A lot of people want to buy and sell bitcoin but are afraid of offshore exchanges especially with the recent bad publicity on Mt. Gox.

BTW cryptsy has been working to get approval to allow USD/BTC trading. Maybe soon they will get the go ahead.

Ibian

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Things are moving below the surface. There is potential for massive growth and the usual suspects will want to take advantage of that. They will try to keep prices low until their starting position is ready, whatever that means - off-exchange coin accumulation, waiting for enough regulation to be put in place etc.

Then there is the fiat economy going down the crapper. The worse it gets, the more people will flock to alternatives.

Patience.

olloman

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Crypto Angel

Quote from: Mikcik on February 09, 2014, 09:33:13 AM

I took the whole great country of china to rise bitcoin by 1000... So if you want to rise it in a spike (and not over a long term) about 4000 you will need something really big...

but why did the Chinese get involved? Mainly because many Chinese sites and services started accepting Bitcoin and the yuan was not at its strongest, definitely not because they liked Bitcoin as concept or fancy virtual item.
This said, the price could be driven by a major western site like Ebay or Amazon starting to accept Bitcoin and people from states such as Argentina using Bitcoin instead of their currency for online transactions.

edit: by the way, with more and more people discovering Bitcoin, more and more sellers will start accepting Bitcoin and the price will start rising exponentially, and that's why you hear people talking about logaritmic/exponential growth, it is not just something abstract that hopefully will someday descend from the sky, it's just how things get discovered/popularity grows.

Topic: Next BTC price spike due to what...? (Read 2601 times)