Here is some speculation as to WHY the bitcoin price may have gone up: http://www.geekcipher.com/technology/bitcoin-price-breakout-on-may-20th-2014/  about 1/2 way down the page. Transparent Thailand exchange reopening + other possibilities.

You realize that 0.015BTC for 1 MH is way overpriced right? Instead of buying the 1MH, they could just buy more of the altcoin they wanted to mine with that 0.015BTC. No hassle of mining AND they end up with more altcoins.

Good stuff, I Favorited your chart. Please keep it updated also with comments as your chart analysis skills are better than mine.

I'm expecting $1300+ by July and the Bitcoin price rally has come just in time . But no where near $4000 like some people are stating...Not even I'm that much of a bull

Wow April 1st of 2015 is a long ways away >.< . I'll take a stab at it though: $6,918. See you in a year....

A whale (person with a lot of bitcoin/money) starts a buying frenzy, other buyers hop on board, then the whale dumps for a profit. Rinse and repeat. Making this potentially market manipulation by a whale (although I hope it is the beginning of a true rise)

Well if you're talking about the bitcoin price fluctuating by large amounts, then you're right that shouldn't change too much with the instant conversion of bitcoin to fiat. However, each local dealer in Uganda could use their own exchange rate for the bitcoin into the Shilling.

For example $30 USD should become 76,000 Shilling (example only). $30 USD bought 0.067BTC, which the local dealer in Uganda may have only give 74,000 Shilling for. Another dealer down the street may have given a different rate due to their own perception of what the exchange rate should be and thus there there is still a price fluctuation.

As a fellow bull I think those are reasonable numbers. A bear would be quick to state $100 or even less as their pessimistic outlook for the year, while their optimistic view would probably be in the mid 300's. You should at least attempt to provide some support for your numbers though, if you're "calling it" as you say.

I'm sticking with my over $1,200 by July 16th prediction. $5000 a coin would be great, but unless your local shops start accepting bitcoin (which may happen if bitpay explodes) I won't put my expectations at that level.

It's not that only bad news can come out of china, it's that only "troll news" comes out of the troll box on btc-e. Market had a bump in price, the trolls will run wild with it. Did you never see the hundred of "Gox to accept litecoin this week" everytime the BTC/LTC ratio improved in Litecoins favor?

You know, the only reason these charts can point downward, is due to the super-omega bubble that occurred in November/December of 2013 and it's correction to now. Did speculators get to crazy? You bet. Does that affect long term price of bitcoin as a digital currency that is superior to fiat currency? Negative.

You're almost always bearish. Don't get in the bulls way please.

On another note, I don't know about over $5000 in July, but I do expect us to hit above the $1,000 mark by then. The only way I see bitcoin hitting $5k by July is if some really big news comes out, for instance bitpay getting 1-2 major retailers to accept bitcoin (that would be pure $$$) or for a ton of brick and mortar stores joining the bitcoin marketplace.

I would love for btc to hit over $5k, but I'll keep my expectations lower and just aim for my over $1k projection for the time being ;P

I wish I knew. We haven't broken much over $450 (been hovering $440) for weeks now. Maybe it has to do with the $30 million dollar investment into bitpay? I mean if they bring brick and mortar stores into the bitcoin marketplace, this is going to explode.

In addition to my previous advice. Buy bitcoin and do now before the next price increase. When July/August come around the corner and bitcoin is multiples of what it is now you will be kicking yourself for not getting in earlier. Also if you accidentally buy at a peak and then the price drops, just HOLD. Use this bitcoin price graph (or any similar graph), buy when your below the trendline, sell when your above.

Exactly! The first question everyone always ask about bitcoin, "well what can I buy with it" and instead of having to go through a very long discussion that basically amounts to "anything you want, as long as you by it over the web", it'll be much clearly to the mainstream users if they already know that quite a few brick and mortar stores accept bitcoin. Then, owning bitcoin will make perfect sense to them.

I think it would make a push for companies to once again start hiring old people so that they don't have to immediately worry about switching to a crypto based salary. I mean if they don't receive crypto as their income they would have to take whatever fiat they make, convert it to crypto, then pay their workers in crypto. If I were an executive and the young workers wanted crypto or no contract...at this stage of crypto acceptance.....I'd probably just hire someone in their 40's that wants the good ole fiat to make my life easier for now.

Yep! And currently (like right his minute) bitcoin has finally broke the $450 mark and is floating around $462 a coin. Next rise incoming? I hope so!

Yeah, basing a new kickstarter that simply uses bitcoin instead of fiat is pretty easy and has already been done with other sites such as a btc loan site. However, having a decentralized kickstarter, now that's cool. Obviously it doesn't fix the problem with the person potentially running with the money, but it does help with incomplete pledges


I wish he would through up a beta model on a test network so we could see how it's run.