Many have said that bitcoin will destroy and will bring an end to banking institutions but i read this article and find out that bitcoin will not destroy banks instead it will empower them.

https://www.cryptocoinsnews.com/blockchain-empower-banks/

I will qoute some

"R3 has managed to organize every major western bank together on a project designed to imitate blockchain technology as it exists in Bitcoin. These firms are open-minded as to how this final form will take, even suggesting they could re-invent security altogether in pursuit of new banking systems.

Financial institutions are not going to surrender their industry. And consumers will appreciate easy-to-use more efficient systems of the future in banking."

So is it feasible or not?

While I'm hoping that it'll reach $1000, I think it's more realistic to think that it'll just hover around $700-$800 at best within 2016. Maybe $1000 is for another year. For now, it remains too optimistic to be a clear goal.

i am sure that bitcoin rise up its price to 800 to 900$ at the end of 2016 ,bitcoin is really going to increase its value too much faster than other crypto currency.

i agree with you bitcoin going to increase its price to huge ,and bitcoin getting more stronger because a large number of people interested in bitcoin and want to invest their money in bitcoin .

That's all what we are waiting to happen which is the price increase, I think it could happen this year and there is no major crash really as the price is backing up already, it takes a little time before we will sit comfortably to $600+ as the previous price before the fall back.

Pushing the ATH back a bit like what's happening right now isn't a terrible idea, and estimating that the ATH will show up sooner rather than later is somewhat good for the mind, as it gives a sense of hope. While it's quite likely that the ATH will be broken and replaced by 2020 (the next halving), anything sooner than that is gladly accepted as a prediction, although it should be treated with skepticism.

The major sell-off at the beginning of the late 2013 bubble looks similar. Both sell-offs are after a bear market and in a beginnig of a bull market.

What do you think?


Update, my prediction:

Now that's some bearish shit!

I don't think it is the FBIs fault by closing down Silk Road. If they had left it open, Silk Road would be three times bigger (or more) by now and drug sales would still have trippled.

The only thing now is that there are numerous places where people go to buy rather than one, which makes it more difficult to keep an eye on.

All business is shifting online. You order your electronics and even groceries online now. Those numbers probably also trippled in the same time. Would anyone really expect the drug trade not to follow a similar trend? In a few years every post office might have drug dogs to pick the packets out..

There were another two BTCs in the latest episode in the store that was closing down.  The shopkeeper lamented that "With this cash allowance, no one's coming in", suggesting that there were currency restrictions in place and people couldn't withdraw their money as they normally would.  

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.