People usually speculate about the future price, but maybe to predict the future we must first understand the past to see if there are any patters and mechanism that might drive the price. To me the most mysterious period of Bitcoin market is the bear market of 2014-2015, when Bitcoin was sitting at $230 for almost 2 years. So, what caused such a low price? Was is solely an effect of Mt.Gox or something else? I'm especially interested to hear responses from people who were into Bitcoin during those times and were involved in trading discussions. Thanks!
I was there buying bitcoin every month at these cheap $230 prices after I saw it crash all the way down from $1200. While the rest cried about it and said bitcoin was dead, I was buying, now do the math and tell me it didn't pay off.
The price was low because of MtGox in my opinion. When you get hit by a nuke, there's radiation. The low price was the remainders of this destruction, but I knew bitcoin would survive long end. The protocol was intact and everything worked as intended. A big centralized exchange closing was nothing.