Bitcoin Forum

I see quite a few posts of people predicting that btc will reach 2k this year, I just wondered what your reasonings for it were?

When gox fell completely I expected the price to go back up, but it seems to have just stalled around the 300 mark even after their dimise.

I am just wondering with all the other coins now out there, why do you think it will go straight back up and to 2k or beyond?

2k this year? Not a chance. Maybe next or within the next couple of years maybe. And there's is never much reasonings behind people's speculations, just wishful thinking usually.

I think it's because lots of smaller miners are selling for cash look at any trades and there are some minute 0.00034 trades as an example, this I believe will mellow out once the bottom if the barrel has been cleared out

No way that it takes 2 year to hit $2k.  Are you serious?  You do know that Microsoft, Time Inc, and PayPal have just recently start implementing it on a very basic level. There's 7 billion people on earth and only 21 Million bitcoins available.  In fact, in the near to mid term there's really only going to be like 16-8 Million bitcoins available due to how long it takes to mine them. There's going to be a lot of people bidding for the same bitcoins when it's all said and done.

in 2 years we'll be wishing we had to opportunity to buy at sub $2k levels

Only chance that bitcoin will have a great raise of price is that in future the ETF of Winklevoss brother will start and many big company will start to invest in this system. Actually is too soon for see a bitcoin price around 1000-2000$.

6x times in 1 year?
That is wishful thinking.

firstly could you tell me who think the price to $ 2k, i never say it anyway

2k?

If it does it'll either be for only splitseconds caused by a fatfinger or catastrophic manipulation on huge scale (also selling off fairly quickly after reaching that high) but all in all we can be happy if this shit survives and everyone can get out to a profit ....

yes, it would reach 2k from next year, so buy as much as you can afford. more you buy more the price goes up :D

Too many people are invested..if you looked last year there weren't many people and majority were the ones who bought it earlier. People started jumping in bandwagon when it crossed $1000 and they lost money...now they've been fcking it up for everyone ever since. Buy low..sell high. They don't belive in technology...they believe in profit and greed.

that's what happens when you release a beautiful tech to people who have no fcking clue about what it is.

Be happy if it touches 500 for once before March 31, 2014.

I just dont understand why bitcoin reached 1000$ last year, there were far fewer uses for bitcoin and far fewer merchants and traders. Now we have more merchants and traders but the price keeps falling like a rock :(

Last year there was a big PUMP which is created from chinese people which has invested a lot of money in bitcoin and alt-coin. But, with the China's BAN, price was reduced to 600$. Over this, another thing is that Mark Karpeles with his BOT has contributed to the PUMP  :D

how do you know? for what it could be, it could skyrocket to 2k in 1 months

no one know, but with the incoming block reward halving, it may occur at some point

The fed's auctions also helped crash the price.

yeah, thats true

I think nothing is impossible. It's just a matter of time. The problem with most people is that they want fast results. And because of that they grow impatient. What I see is that acceptance level has been steadily growing, number of companies into bitcoin have also picked up, the biggest thus far is microsoft (I just hope that worked out) and with the uptrend maintaining, I'm sure price will adjust itself to higher level. Forget about 2k. Let's aim lower at 1k first.

The price of bitcoin went up more then 100x in 2013 and went up similarly huge amounts in previous years. For the price to only go up by 6x would mean that the rate of price increase would be slowing tremendously.

To hit 2k it'd essentially need twice the newb hype it had a year ago roughly this time. That's very unlikely. I can't see it hitting $1k for a long time myself.

Where you had a predict from? the link? pict?
im not really sure will hit 2k this year or 2015, maybe next year(halving).

Mostly people speculate on past events. History of Bitcoin and history of Human economy.

People live inside their own world.

They seem to ignore the part where realilty and fantasy are two completely different things.

When you just take the time and review the market, you will know that $2K is not reasonable and won't happen in 2015.

What are peoples reasonings for making such a prediction? Simple. They want it to go to that price. Will it? Not for a while. Keep promoting bitcoin and the bigger it gets so will hopefully the price.

The title is bitcoin value and you all just talking about the price (more ridiculously in USD).
Bitcoins price the unit I mean is just a 1/3 of bitcoins value as I see it, the other 2/3 is blockchain technology and bitcoin the network.
As you can see  blockchain technology is growing in price (or as you say in value, USD .btw I hope you are not measuring all values in USD).
The ration between the bitcoin market cap and alt coins market cap is less then it was 1-2 years ago ,see coinmarketcap.com.
The bitcoin network has just grown exponentially in the last year or so (see google search results and network hash rate.
So basically without going into details bitcoin value is priced in 2/3 less then it is actually trading now.
One year ago bitcoin price was around 1000$-800$ now it it at 350$.
So the fair price of bitcoin right now is around 900$-1100$ now how many new adopters of bitcoin will come if this was the reality right now?
I think around X3-X10 more so bitcoin at 3k to 10k is a very realistic target price for the next year or two.

 

Blockchain technology is not growing in price any more than TCP/IP technology is growing in price.  It is free.


Teh USD is the defacto money of international commerce.

http://s17.postimg.org/5yy1stjvj/Capture.jpg

Teh gold is the defacto money of international commerce.
Teh Bitcoin  is the defacto free money of the Internet.
or what do you think that just because 99% of the population think the same that makes it a truth.

Learn what "defacto" means before typing :)

Definitions of de facto
adverb
in fact, or in effect, whether by right or not.
"the island has been de facto divided into two countries"
synonyms: in practice, in effect, in fact, in reality, really, actually
adjective
denoting someone or something that is such in fact.
"a de facto one-party system"
synonyms: actual, real, effective
  :o

The percentage of international transactions labelled in USD is going down overtime and I am very bearish for USD.

That's why you are poor:  The USD value has at least doubled rel. BTC over the past year.  Learn to make better calls.  Get good, bro :-\
@vssa:  Continue learning, I'm rootin' 4 u!

Selling Bitcoin a year ago and buying some now was a good trade but holding Dollars now seem very risky when the fed and banks are likely to create a lot of them and the use of dollar is likely to go down.

Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs.  Learn life.

They are also making such predictions because we have seen similarly sized (in terms of percentage gains) gains in the past. Despite the fact that the difference between the high and the low price of bitcoin is a 70% difference, 2014 has been one of the least volatile years for the price that bitcoin has ever seen

I dont have such skills as other do have. So i just cant do it by myself. I think many people does. And so they buy and sell it at price that it is out there now.

A lot of people expect the next halving to have a substantial impact on bitcoin's price.
Hopefully, we see a bull run by then.

Keeping Dollar instead of Bitcoin was a good trade this year but long term I don't think it will. Rich people have their wealth in assets not fiat.

i think it will take a long time to see the price mark of 2K atleast we won't able to see this price in 2015
the max we can hope for 2015 is 800-850$ again, and i will happy with that price
about 2K price it can happen at next block reward halving

You need to look at a much longer time frame then just one year when determining how good of an investment something is/was. Looking at a one year ROI is an arbitrary short time frame. If you were to double that and look at a 2 year ROI you will see that someone who purchased bitcoin this time in 2012 would have grown their money by ~30x while the value of their dollar would have been roughly the same (there was very low inflation over the past 2 years)

2K is lot more than 320$ but if bitcoin holders and miners sell less and we have more buyers we will go to this price fast.

A year timeframe is far from "arbitrary."  37 days would be arbitrary.  2 years would be arbitrary,  A year is a natural.
A year is also far from "short" for Bitcoin--Bitcoin's entire history is 5 years, 3 of which were spent in single-digit obscurity.

But hey, if Bitcoin is going to be huge in 9009, I think I'll pass on it for the time being.
On a more positive note, Bitcoin's been getting some recognition lately.  What was it, "The worst investment of 2014"?

What the fuck does "natural" even mean?

A year is absolutely arbitrary. The market doesn't care about the laws of the universe or how long the orbital period of Earth moving around sun is.

You win some you lose some

https://i.imgur.com/SnxxAm7.jpg

It is a standard measure of time used by Earthlings, being "the orbital period of the Earth moving in its orbit around the Sun."
When I speak to Earthlings about Bitcoiners, I often suggest that a typical Bitcoiner's financial acumen is that of a five-year-old, instead of "2.5 two_year-old," or "49 37-day-old)."

Financial statements are also not typically issued in "2-yearly" or "37-day" statements.
Hope this helps :)

Your statement is true for financial statements however it is misleading when measuring the performance of investments. There have been many scandals where mutual fund companies had used specific measurements to make it look like their funds' performance was better then the index they were trying to beat by measuring at arbitrary times, over arbitrary timeframes.

Anytime you want to measure an investment's performance you want to look at as long as a timeframe as possible to get the most accurate result

In that case, Bitcoin is an infinitely good investment, its IPO price was 0 [zero].
This also makes Dogecoin, Litecoin, and every shitcoin still being mined an infinitely good investment.

If it's not obvious (and, on this forum, I've learned to take nothing for granted), I'm joking.
Investing in a pyramid scheme is smart, provided you know that it's a scheme & can get out early.  Investing in one when it's starting to crumble is not.