Bitcoin Forum

http://www.cryptocoinsnews.com/news/four-charts-suggest-bitcoin-value-10000-usd-next-year/2014/06/27

I don't get who is going to keep buying these bitcoins to push the price that high.

me

The Chinese speculators were crazy to push the price as high as ＄1163  in 2013. Then the speculation was oppressed down and the price declined to ＄400. Until now the price bounce back too ＄570. It is more stable now. I think most of the people who have bought BTC now have faith with BTC and want to invest into it.

The only way we'd reach 10K by next year would be by having a hyperinflationary bubble such that as the price increases speculators get excited and demand more leading to an increase in price once more. However, this case is so unlikely, I personally think we'd be lucky to get back to 1K again.

Oh darn, the get rich quick scheme failed. Better luck next year!

Bitcoin price does not follow chart(s) but market.

Well I think last year, was a bit of a bubble.  :-\

But investors tend to run to a more stable environment, when fiat currencies goes flat. So in the long run a more stable rate, would be better.

If fiat currencies should drop, and all indication are, that the stimulation of currencies, cannot be sustained, we would see traders, going the way of commodities, which is stable, eg. Gold etc.

It would be better, if we have a steady increase over a long period, rather than great fluctuation over short periods. {If you look at the bitcoin graphs, since 2009, it's still going upwards.}

We will see some spikes, when bigger companies adopt BTC but thats just demand for BTC increasing.

Having $10 000 US by next year, based on last years performance, imo is wishfull thinking. But I would not have predicted last years record highs either. {traditional trader}

Well indeed. The price has been moving almost nowhere for a month now. Such an instant rise would be bad as well.
I'd rather see a daily growth of around 5%.

You realize if you start at $570 and compound 5% daily for 1 year the total is $29,429,285,427.97 right?

They are at Google Trends :)

Please. I did not mean every damn day.
I'm saying that a daily growth of 5% is way better than 55555% in a day.

Multiple of 1$ can be 2$.  ;)

I only wrote that comment because i was getting paid for every post i write due to the advertisement in my sig which i just took off now cause it may cause me to write about shit I don't care about.

That's what people said at $1, then at $10, and then they said it again at $100.. well you get the picture. ;)

Stop with the TO DA MOON projection bullshit, bulls. That's my opinion.

My patience is starting to wear thin.

2014 is starting to look like 2011/2012: time for the network to grow, services to develop, the community to grow, etc. And price, to, well, stagnate a bit.

Don't think that's true? I don't give a fuck, we all make our bets accordingly (some sold, sold are holding, some are buying more), but whatever you decided to do, the desperate repetition of those "$10,000/$100,000 next month/year" threads is getting ridiculous.

If price really goes up that much, that fast, we will notice, I'm sure. Until then, work to improve the network in your own ways.

(And I realize that this is what Blitz has been saying for close to 6 months now. Good guy.)

As someone who purchase vintage instruments, I can guarantee that some people will purchase bitcoin at $10,000. A $10,000 guitar is considered average price among collectors these days. That would have been unbelievable to me when I was 15 and just purchased a $300 used Les Paul. Numbers are only relative to your state of mind.

Bubble, 8 months bear market, bubble, 8 months bear market.

we're currently close to 8 months again.

time for another bubble

The bull is strong in this one - I like it! ;)

Why get all worked up over some bulls speculating about a huge price increase next year? A year is a long time in Bitcoin and I don't think $10,000 next year is that unlikely. I agree the network needs time to grow and there are still important issues to deal with, but hey let the dreamers dream, the speculators speculate and the builders build. :)

Do you really believe that everyone now is either buying WHOLE bitcoins or nothing at all?  If you believe that the price goes that high because only one or a few people are buying whole bitcoins at that price, then there's a lot you don't yet understand about how exponential growth works.

1 person buying 1 btc @ $10,000 = 10 people buying 0.1 btc @ $1,000 = 100 people buying 0.01 btc @ $100 = 1000 people buying 0.001 btc @ $10, etc.

As you can see, as the pool of bitcoin buyers grows exponentially, it will only take each one of them buying a small amount of btc to push the price/btc up to astronomical levels.

+1

It's the same as when people compare trade volumes with what they were when bitcoins were worth a small fraction of today's prices.

Once again here's a classic sign that humans are tuned for manageable numbers. Anyone who says the general population will love paying 0.0000234 for anything has spent far too much time down the rabbit hole.

$10,000 sounds like a crazy amount for a single unit of anything even when we all know perfectly well that there aren't very many of them.

There's only a few million coins. There are soon to be 12.6 billion Apple shares.

Once we have at least a million people buying, then we can start talking numbers.

Terrible article though -- we get one price chart viewed from 3 different perspectives and the google trends chart.

Using price to predict price always makes some of us nervous because price is a summary metric not fundamental.

OP should have shown reddit subs, online wallets, growth in India or Africa, etc

.. have you been asleep with the entire Bits and MillitBTC... I currently pay everything with milliBTC..

Anyone that can't grasp we'll just change .000 001 to 1 bit has spent far to much time down the rabbit hole.

There are unrealistic expectation and then there are dreamer.

10k by next year is beyond unrealistic expectation.

Er, that's me point. Certain folks are squealing about no one wanting to pay $10,000 for a single coin. They need to rewire their perception.

Dude, didn't you just post this in another thread?  Bipolar much?

As if amateur TA in the forum, and news articles covering old news wasn't enough,  now we have news articles covering amateur TA to reignite the conversation.

Anyone and everyone who wants to make money?

You have those with faith buying/holding now. When the price shoots up, those who are watching and waiting for proof BTC is for real will buy. As news of BTC shooting up hits people who never gave it a second look will pile on, etc etc etc.

We had a taste of this in Dec, the problem was the infrastructure wasn't deep enough to support MASSIVE price growth. The next bubble won't be a bubble, it will be a price correction to reflect current adoption.

Exactly. Because how would a system of measure (value, distance, weight etc) ever work with a unit so big? It's like telling me that meters are good to measure everything with! Anyone who says the general population will love using .00000234 meters as a unit of distance has spent far too much time down the rabbit hole.

Oh wait.... centimeters, millimeters...

yeah its not like berkshire hathaway goes for 150000+ a share and people still buy them or anything? oh wait...

Don't forget 'bits'

Oh wait, that's not a thing actually.

More on topic:

It's quite funny to see the market sentiment change from bullish to bearish to bullish and now bearish again. And the changes are pretty big as well. When the price was at $680 even most of the perms bears agreed a new rally was coming, now at $600 most people even think $4000 is a ridiculously bullish prediction.

Hilarious how people react to minor changes in price.

I am bullish on bitcoin. I think it is a matter of time we soar pass the previous peak of $1100. My question is not when, is where. Where is the next peak?

If we interpolate previous peaks, the next one is literally "off the charts". Base solely on the charts, we will be back over $1000 within 2 months, and testing new highs within 6 months. The new ATH should be around $5000. Don't get too excited, charts are NOT reliable. We have to take news and developement into account.

I think (hope) we will see more good news than bad news in 2014/15. $10,000 is not impossible, but my guess is around $2500 level by the end of 2015.