Bitcoin Forum

Remember when we were trading for 1000 dollars. Seemingly no big bad news were out at that time. And people were blinded by going to the moon telling.
Then china came with its ban, mtgox is practically dead and bitcoin is being regulated all over the world and rejected by most banks.

We wont be back at 1000dollars unless some big news come out OR unless enough time has passed for the mainstream to pick up on bitcoin which naturally will probably take a year or two.

Conclusion: we will flow at 500-700dollars this year and it will not be known as the year of bitcoin but rather as the year of consolidation.

I've been doing this since 2011, and a year is an awfully long time in bitcoin land.  I wouldn't be making predictions a week in advance much less a year.

This is shaping up a lot like the 2011 bubble. Even at points during the 2011 bubble I bought bitcoins thinking the bottom was hit only to see it go a lot lower.

I bought some bitcoins back at $600 but sold them yesterday when it became clear to me that there is a good chance we are going to go much lower.

I'm going to think we will be back to $100-200's. It will take a while and people will say never like they said in 2011, but it could happen.

I don't think anybody realizes just how small the bitcoin community is for buyers and how expensive bit coins actually are. Now you have the community that pushed bitcoins to $1000 sitting on lots of bitcoins and no reason to keep buying them to push the price higher.

You also have lots of competitor coins that do the same thing as bitcoin.

As the price continues to stay stagnant and slowly falling, this will put so much downwards pressure on bitcoin at these very high price levels. I don't see anyone really buying at these price levels when the price isn't moving higher.

I really don't see any value currently in bit coins until the price comes down to $100's or lower. It is just a bad investment at these high prices and I have been saying that for a long time.

There has been a tonne of good news over the past few months.  Currently we're riding the speculation train on the Gox is dying track.  Once the death is over, the funeral has ocurred, and we all go back to our regular lives everything will be just fine.

I think that thinking Gox is the reason bitcoin is lower is wishful thinking.

Trust me the gox problems are priced in, everyone knows for a long time that gox was problems and what ever happens at this point will be looked at as a good thing.

Lets face it, gox goes out of business, that is a good thing for bitcoin, price will go up.

If Gox gets back to normal that that is also a good thing for bitcoin, price will go up.

I think Gox has helped the bitcoin price stay higher by its artificially high prices. People would think their bitcoin was worth more than it was and wouldn't sell them on another exchange.

Remember when we were trading for less than a dollar? Seemingly no news were out at that time. And people were blinded by Ponzi scheme telling.

Then Gawker came with its articles, mtgox is practically a monopoly and bitcoin is being traded all over the world but ignored by most banks.

We wont be back at pennies unless some big news come out OR unless enough time has passed for the community to give up on bitcoin which naturally will probably take a year or two.

Conclusion: we will flow at 500-700dollars this week and it will not be known as the week of bitcoin but rather as the week of consolidation.
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It depends on how myopic your view is. BTC is still trading for over ten times what it was less than a short year ago.

You lived in a cave?

Bitcoin merchants grow by the day, more and more companies accept bitcoin. The MtGox problem is good for long term, it will radically change things.

What doesn't kill you makes you stronger

The year barely started. There is room to grow back to $1000.

we'll see $1000 before we see gox recover

Indeed, once "bubbles" pop, they don't reflate instantly (temporary "denial-phase" bull traps aside of course). It's a little prematurely pessimistic to suggest this market's a rerun of the 2011 bear. It actually feels rather more like July 2013 if anything.

Never ever,

we'll see 300$ before gox recovers or dies.

I agree that we'll look back upon 2014 as the year of consolidation. We've had enormous growth over the past few years -- don't bullshit yourselves, it couldn't go on forever. This year has kicked off with too much bad news and still there's much anxiety about regulation from various governments coming down the pipeline. I would like to believe we'll pull through and break $1000 again, but I don't expect it to happen until 2015 at least.

Wrong.

Bitcoins growth is exponential.

indeed, because gox will never recover again.)

Big news: mTgOX has shut down for good.

(Future premonition)  ;D

The current prices do feel like august 2013 - when prices were dropping slowly and only the Chinese were able to make it shoot up again!

I have a feeling that it might be time to stop thinking about bitcoin funded pensions and think more about building something with bitcoin and the alts.

The ironic thing being that in 3 years, the value of bitcoin may well be $10k, but its going to take some practical advantages being available to muggles before that happens - that is where us building it comes in.

That is the big news we need! ;-)

Bitcoin needs more fiat -> BTC conversion services.  Too limited at the moment.  Inflow is terribly restricted.

Bingo...

We need to be able to go anywhere and buy BTC with ease. Its not just ATM's we need.

Er... rumour has it in town that it's not the first time you do so.
I recall someone congratulating with you for being up 150% in a 5000% market.
Ever thought that trading might not be your specialty?

Sorry  :P

Right, and from a pure price support standpoint, the last thing you want is vendor adoption arriving ahead of ATMs and smoother inflow sources.

Most bitcoin merchants have to instantly sell their BTC into FIAT. If the growth rate of Bitcoin newbies and their pumping of fresh FIAT into exchanges is lower than the growth of bitcoin merchants FIAT demands, the price of BTC will drop over the time.