Sorry for double posting.
I wanted to say, that I don't think the biggest factor will be merchant adoption, unless some huge merchants announce bitcoin plans. Like Amazon or Wallmart or something like that. And I don't see that happening in 2014. (I would love to but I am not that optimistic)
What will increase the value in the short run is when places like Spain and Italy's economy comes closer to collapsing (and they are pretty close now). Before they allow an economy to collapse, they will put restrictions on bank whidrawls and money transfers, in order to plunder the population of any excess wealth, which will make bitcoins rise in value. Since it's a good alternative to paper money and a good way to to keep your money hidden from the government.
Topic: will it ever go back up to $1200? - page 2. (Read 2412 times)
It will reach one hundred (pinky to edge of mouth) BILLION dollars. No kidding, I am 100% sure it will. Maybe not in 2014, but soon...
Unfortunately you will need millions of dollars to buy a pack of gum at that point, so once we get there, we won't compare BTC to USD but to gold or something else that is a little bit more tangible, than paper money.
In fact the only reason that it makes any sense to compare real money to paper money, is that everyone still user paper money. But USD and other fiat currency have no real value. And I doubt that all the guns and police in the world, and keep it from hyper inflating.
Edit: Ps. I don't recomend putting all your money in BTC or Crypto currency in general, just as I would not recommend putting all your money in USD (or other paper fiat currencies). Put some in BTC, some in precious metals, some in stocks and so on.
Unfortunately you will need millions of dollars to buy a pack of gum at that point, so once we get there, we won't compare BTC to USD but to gold or something else that is a little bit more tangible, than paper money.
In fact the only reason that it makes any sense to compare real money to paper money, is that everyone still user paper money. But USD and other fiat currency have no real value. And I doubt that all the guns and police in the world, and keep it from hyper inflating.
Edit: Ps. I don't recomend putting all your money in BTC or Crypto currency in general, just as I would not recommend putting all your money in USD (or other paper fiat currencies). Put some in BTC, some in precious metals, some in stocks and so on.
But whereever it goes - don't bet all your savings on one horse so to speak and be mentally prepared for swings into the less desirable direction.
IMHO take profits at some realistic point so you're in the green regardless of what happens in the future. Once in the green with your investment, use your remaining BTC to see how far it can take you.
In short, don't hope for the moon; rather try to build a staircase up there (take profits once a while) as to make sure you don't get crushed should those stairs (or a part of them) come crashing down.
IMHO take profits at some realistic point so you're in the green regardless of what happens in the future. Once in the green with your investment, use your remaining BTC to see how far it can take you.
In short, don't hope for the moon; rather try to build a staircase up there (take profits once a while) as to make sure you don't get crushed should those stairs (or a part of them) come crashing down.
+1....sound advice
The biggest factor in Bitcoin's future price increases will be merchant adoption. There are millions of venture capital dollars chasing the market opportunity of replacing Visa and MasterCard. Coinbase in particular is offering 0-1% transaction fees compared to the 2%+ merchants are used to paying. The cost of accepting Bitcoin with guaranteed USD payouts is just having an Android device around. That is a deal few merchants will pass up.
You are right on point. Although coinbase sucks at serving retail clients (based on the stories on this forum), they are very efficient on delivering services to merchants. Goldman alumni definitely knows where to get the most bucks and boost company valuation.
The biggest factor in Bitcoin's future price increases will be merchant adoption. There are millions of venture capital dollars chasing the market opportunity of replacing Visa and MasterCard. Coinbase in particular is offering 0-1% transaction fees compared to the 2%+ merchants are used to paying. The cost of accepting Bitcoin with guaranteed USD payouts is just having an Android device around. That is a deal few merchants will pass up.
My best guess is that it will be back to $1200+ within 3 months.
Obviously, China triggered a selloff that chilled off some investors (i.e. big whales in China)
This is just temporary, it will pass...
Obviously, China triggered a selloff that chilled off some investors (i.e. big whales in China)
This is just temporary, it will pass...
It will happen then then it will be sold off to $800, up and down
Its going to slowly keep rising with little dips. Glad the chinese crap is over.
It has had many bumps but on average it has only steadily risen. This rise then fall has happened time and time again. From a simplistic point of view it will reach that point again, but in reality practically nobody really knows.
It went to $1200 to show the world that it is full of potential but now as it is tackling serious issues with big powers so temporarily it has retreated to $700 but mark my words it shall bounce back and this time it shall cross $1500 as bitcoin are the futures globally accepted currency overtaking fiat currency
It will go up and down this year. May not settle or rest at particular price.
Be ready to trade between 500 to 1500.
Be ready to trade between 500 to 1500.
I have traded the FX markets for years, this price action supports continued further upward movements, price is now resting on a support level. Crypto is here to stay - wish I got in earlier than last week!
Happy new year!
QRK: Qcfuxzmzev2Vz4PamuxUtPg8WzqPicrWUa
FTC: 6paiFEVnPMvhrxvWMVjLpZuspGmRuwTtjN
LTC: LWaHKH618e7z22PBLzbRUG4XrSX2GirwA3
DOGE:DUNBJgJ3qJTUgBcamjMYWp8LAZgZwV7ZyB
Happy new year!
QRK: Qcfuxzmzev2Vz4PamuxUtPg8WzqPicrWUa
FTC: 6paiFEVnPMvhrxvWMVjLpZuspGmRuwTtjN
LTC: LWaHKH618e7z22PBLzbRUG4XrSX2GirwA3
DOGE:DUNBJgJ3qJTUgBcamjMYWp8LAZgZwV7ZyB
I'd like to say it'll go up, and it probably will with the introduction of a lot of services. It'll be interesting to see what scrypt ASICs do to the bitcoin price.
I reckon it will push Bitcoin price up. When scrypt ASIC comes out.
China and India doesn't seem to support crypto coins. So like the same with other countries. It can't be predicted now, Let's wait and see.
I think it will go up by mid of this year.
One can't expect sudden upward movement this month.
One can't expect sudden upward movement this month.
China is what happened: http://www.coindesk.com/bitcoin-price-falls-btc-china-exchange-shuts-fiat-deposits/
Basically, transferring to/from yuan/bitcoin suddenly became much more difficult. And, due to bitcoin's previous run up in price being due to China, this was a blow to the speculators.
Basically, transferring to/from yuan/bitcoin suddenly became much more difficult. And, due to bitcoin's previous run up in price being due to China, this was a blow to the speculators.
similar in India, but it will go well over 1200, no doubts
I'd bet it goes quite a bit higher on long enough timeline.
It will go to and beyond $1200. but high volatality remains. It can't be changed anytime.
I'd like to say it'll go up, and it probably will with the introduction of a lot of services. It'll be interesting to see what scrypt ASICs do to the bitcoin price.
I'm going to be nervous until tomorrow actually, and there might be bargains today... depends how many people want to liquidate to make accounting/taxes easier for year end.
We actually get into 2014 and yup I think we're on an upswing again, you notice a lot of new people here? I think people were talking to family and friends over the holiday period, lost of new interest.
We actually get into 2014 and yup I think we're on an upswing again, you notice a lot of new people here? I think people were talking to family and friends over the holiday period, lost of new interest.
Jump to: