Bitcoin Forum

whats going on right now? why did it go up to $1200 but now back down to $700. just curious!

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.

china....


it will go up to $10000+

thanks guys

willtake some months imo but it will happen.

Just be patient.
After the peak in april everybody was thinking 'will it ever reach $270 again?', now see where we are at.

Ever? Of course are you kidding me, the reason why the price of bitcoin dropped is due to china, but imagine when more businesses
are opening for BTC and that when more people get aware of btc and more people use btc, the price will sky rocket well over that number,
It will be bigger and bigger each year.

The truth is no one really know what it will do - you can predict but there is no certainty.

I remember when I first saw it go over the $50 mark.... I couldn't believe people were coughing up real money to buy in. I guess they were on to something.

I think decentralized P2P currency will only gain more traction as people get sick of the way governments allow corporations to run their fiat based systems.

Yes, consider this your best deal you'll ever get to the mooon!

it wil be 2-3k in 2014!

I recon , that there is a possibility for the market to head for a newpeak and this peak will be around the 5-10k level max. I speculate on 5K at the end of 2014.

Bitcoin is worth $800 on MtGox now. So it is getting close to the last peak.

economist say - target BTC is 10k $

I'd say it's possible we reach that mark somewhere in late 2015. At least that's what I heard from various speculators around the forums.

great news

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.

Soon. its steadily rising after the sudden drop.

People panic selling is what happened.

I'm sure it'll go above and beyond in 2014.

ofcourse it will dude

China is the reason it when up then back down. I am confident that it will be $2000 in Q1 2014.

Every now and then (usually every 3-6 months) the price increases more than 3 times, crashes to half of the all time high and then continues to steadily rise again before forming a new bubble.
The next bubble would probably be $2000-3000.

Follow the news man ;D http://www.coindesk.com/ (http://www.coindesk.com/).
Sure it will.

I believe it will, I don't think Bitcoin's wild ride is over yet. It's now become a speculative commodity, and a lot of people trade in it. It's bound to it the 1000 mark again

I have no doubts it will go back up to $1200.
Given the lack of stability that Bitcoin has right now, it may not be in the near future, but if the predictions are correct, Bitcoin value should be around $2000 in late 2014.

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.

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.

It will go to and beyond $1200. but high volatality remains. It can't be changed anytime.

I'd bet it goes quite a bit higher on long enough timeline.

similar in India, but it will go well over 1200, no doubts

I think it will go up by mid of this year.

One can't expect sudden upward movement this month.

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 reckon it will push Bitcoin price up. When scrypt ASIC comes out.

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!

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FTC: 6paiFEVnPMvhrxvWMVjLpZuspGmRuwTtjN
LTC: LWaHKH618e7z22PBLzbRUG4XrSX2GirwA3
DOGE:DUNBJgJ3qJTUgBcamjMYWp8LAZgZwV7ZyB

It will go up and down this year. May not settle or rest at particular price.

Be ready to trade between 500 to 1500.

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 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.

Its going to slowly keep rising with little dips.  Glad the chinese crap is over. 

It will happen then then it will be sold off to $800, up and down

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...

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.

+1....sound advice

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.

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.

I would consider BTC as a (rsiky) investment. But if we assume global CAPitalization is to reach sat N billion, one coin is to be = N/22 million. So quite high. Problem is that it seems starting mining now is almost too late... Professionals built mining centers killing individual efforts. This could be a largest problem for the community of enthusiasts reading/posting on this forum.

I'd say that there is a net positive gain from China. Before the China spike, BTC was at $300-400 levels. After the China spike, it is now stabilizing at $800-850 levels. So we gained a lot from the Chinese spike.

It will be a big year for bitcoin because lots of people are pushing this idea and when more people start using it the price will increase 

Well, there's already some uptrend visible; now $770 on BTC-e.com, coming from $740 just 24 hours earlier. In my opinion we'll see a steady climb in the coming weeks.

One time definitively the Bitcoin price goes back up to $1200.
Nice the price seems relatively stable even after the China thing.

The day will come when 1 satoshi is worth more than 1 penny.
Some of that will be btc appreciation and some will be depreciation of the dollar.

Yes it will see $1200 again. Q1 2014.

Why are people so hung up about it getting back to $1200? It's just a number and guessing when it will be back there is unknowable. I'm sure it will far surpass that figure at some point this year any way.

I invested in Bitcoin when it was 400$, but I'm not ready to sell yet. I believe its value will be much greater till the end of 2014. I also like other coins like PPCoin or Primecoin from Sunny King.

ee

Let's hope so :) I only got involved recently so I missed investing in the single best investment of 2013 (bitcoin). I won't feel too bad if it takes that title in 2014 too

Well, I'd be pretty hung up on the price if I paid $1200 a piece lol

i'm in the $10,000+ group...

Haha, you're right, didn't think of that. Derp.

It will going back over $1200 next week.  8)

Everyday i read at least 2 good news about Bitcoin; a new store accepting Bitcoin, new Bitcoin ATMs installed, a new altcoin having media attention etc. Also China is buying again, so if something extraordinary doesn't happen, like Federal Reserve launches it's own cryptocurrency, banning Bitcoin, it will go back up to $1200 probably.

China was always buying. Even when the Chinese put restrictions on their exchanges, most of the coins were still going into china from other exchanges.

There is no reason it shouldn't go back up over $1,200, and even higher.  Just because the PBoC made some statements and regulations doesn't mean the resourceful Chinese people won't find a way around it.  Look at the BTCChina e-vouchers on the online auctions for example.

Hopefully Forbes is right and it goes higher than 10k  8)

I think we will see 1200 USD in March again.

future is looking good right now

too bad coinbase canceled my purchase at 780. now they're at 830 and rising.

Given enought time, even over 10k is possible