I see many people here rely on a factor of merchant/business adoption, however they miss to see the other half of the picture. The actual price depends on the supply and demand where the supply side is a bit overloaded with most of new merchants dumping their income using Bitpay. There is not enough new demand coming from people to balance this equation. To fill the missing volume people should start receiving income in bitcoins on a monthly basis, e.g. on a payroll.
I too think the more and more places will be accepting Bitcoin. which is quite positive.
More businesses accepting Bitcoin mean 60-70% of them are dumping bitcoins on the markets instantaneously. (
https://bitcointalksearch.org/topic/2014-12-14-ccn-more-than-4400-bitpay-merchants-keep-all-their-bitcoins-892955). Which is not quite positive.
With so much infrastructure going up and barring any extreme failing being discovered - bitcoin should hold firm and increase slightly.
Not really. Nobody is incentivized to convert fiat into bitcoins to pay with them for goods, if he can do the same with fiat. So the majority of users who would actually use the infrastructure are current bitcoin hodlers. Which means they are indirectly dumping them on the market, hence the price falls.
Reddit and Pokerstars will soon have it integrated in their systems, which could only be good for the price.
In case Reddit and Pokerstars hodl all of the bitcoin income then yes.
