Bitcoin Forum

so 2014 has been quite disappointing at least on the price, what are your thoughts on rest of year, what are the potential catalysts to get the price above 1k?

UK being properly connected to the bitcoin economy, along with merchant payment systems.

That depends on your perspective. We're supposed to at $10 right now according to some skeptics:

http://www.reddit.com/r/Bitcoin/comments/233vx7/i_know_that_were_all_excited_about_the_price/

I really don't know what it is going to take, I'm starting to get nervous.  Despite all the publicity of Overstock accepting Bitcoin, it only accounts for one tenth of one percent of their revenue and I haven't seen any reports of this hinting at getting any better either.  Tigerstock accepts it as well, but this fact is pretty much buried on their site, not only does it fail to appear on the main page, it doesn't even appear in the payment options after you fill your cart and click checkout.  I've also seen several Reddit comments from people saying they are seeing local businesses go from accepting it to no longer doing so, saying nobody was using it and it was a chore to train employees for no results.  And then we have Bitcoin companies spamming #bitcoin #majorannouncement #tothemoon on their Twitter accounts and everywhere else they can, just to later find out it is simply a billionaire investing the equivalent of two pennies of their net worth.  

People think a retailer like Amazon accepting Bitcoin will be a major catalyst, but from what I've seen from the other retailers, it doesn't seem like the end result is going to be very climatic.  It doesn't help whatsoever when a large retailer begins accepting it, just to have it fizzle within months.  I guess the only thing I can think of as a potential incoming catalyst is if the Bitcoin ETF results in massive fiat investment or not, as obviously $100's of millions of dollars coming into the ecosystem would give us a nice jumpstart, but that might not even happen.  Or maybe if the Mt Gox revival plan happens, is successful, investors recoup their losses and even profit...but again we could be grasping at straws here, as this is a longshot too.    

I've held all the way down from my initial buy-in at over $1,000, while in the meantime buying three times as many coins as I originally planned in order to lower my dollar cost average, so I'm not going to give up now.  Just getting depressed, that's all.  Hope to see some encouragement soon!

Bitcoin ETF will drive prices way up. The ETF will provide the liquidity needed for big hedge fund money to pour in. When will the ETF start trading? By the end of the year?

The get rich scheme taking too long ...

Get out NOw !!

Nowhere did I say I was selling/getting out/throwing in the towel/dumping my coins.  I simply contributed to the discussion by answering his question.  I pointed out the year-to-date catalysts not having an effect so far, and mentioned a couple we might see during the rest of the year and wondered if they would have any effect either.  Thanks for the mature response however, keep up the good work.  Looking at your previous posts, maybe YipYip should do less YipYapping.  

Sorry dad ...I will try and have a mature response to your noob questions

Nothing like posting some links to give credibility to your assessment.
Anyway, even if I'm bearish on the short and median term, I'm positive in the long term. Rome and Pavia were not built on one day. To have already some major retailers accepting bitcoin is a success.
By the way, one of the basic rules of trading is: avoid to buy anything that didn't go the way you were expecting just to lower its price in your portfolio. You already bought at the wrong price a few times, so probably you are going to repeat the same mistake. Don't fight the trend by doing trades against it. At least, wait for serious signals of reversal of this bearish trend.

People who use it like it, and they tell their friends about it.  Especially their friends who like to use Western Union or some other rip off product.
Repeat in every neighborhood in the civilized world for years and years, compound with increasing media and institutional usage and it's CCMF to the MOON or whatever
There are less bullish scenarios that aren't impossible too, but this is the path I envision.

I think the price has stabilized for the time being. Keep an eye on US, UK, and other Western regulatory trends. If Bitcoin remains legal in these areas, then the price should retest the previous highs before year's end. If another major Country goes the way of China, we probably won't.

Hang in there man, it'll pay off for you if you can think longer term than the majority of folks on this sub.  Think 1.5 to 2 years out.  Also lowering your cost average is a great strategy.  Look at the current situation as a great opportunity to acquire more coins like you said, if the price had kept going up, you wouldn't be able to acquire nearly as much... each coin you own is a multiplier of long term wealth.