Bitcoin goes to 1200-1300 (within a month?)

[MR1]

So we have 23 days to reach 1.200 $  ?

[vtr99]

1200 in a month is not going to happen. 1200 before end of 2015 is probable but not likely. I would say the peak in 2015 will be around 600ish.

"probable but not likely"

Sort of a contradiction wouldn't you say? We could easily be looking at a situation far worse than 2008. The 2013 Cyprus financial mess is chump change compared to Greece (roughly 11 to 12 times). $1,200 to $1,300 Bitcoin could be a conservative number. Most of the experts I follow predicted the Euro would fail years ago. Try doing a Google search. If the Euro drops to $ .85 cents or so, we will see Bitcoin at $1,500 plus. The US stock market has been pumped by artificially low interest rates, and could easily repeat 2008's high dive act. The odds of Bitcoin going much higher are becoming more probable, and more likely by the minute.

It isn't just that Europe is facing the biggest financial crisis in world history, it's also the USA's $200 trillion plus in obligations.

http://www.forbes.com/sites/kotlikoff/2015/05/13/17-nobel-laureates-and-1200-economists-agree-with-ben-carson-re-u-s-fiscal-gap/

Then you have the fact that state and local governments are also bankrupt.

http://www.usatoday.com/story/money/business/2015/07/06/state-fiscal-health-pension-funds-report/29763379/

http://www.usdebtclock.org/state-debt-clocks/state-of-illinois-debt-clock.html

http://www.newsbtc.com/2014/09/24/tim-draper-predicts-10000-bitcoin-three-years/

In my opinion this is not so much a prediction as it is common sense. The entire world seems to be living in some sort of "Idiocracy" political and financial disconnect.

https://en.wikipedia.org/wiki/Idiocracy

[vtr99]

If Btc crosses $1000 it will hit the news hard again, $5k+, maybe a lot higher - current levels to become a memory. Presently, the avg person still has no idea btc exists. The top could be a LOT higher than $1300, because all the doubters last time called it nothing more than a tulip/beanie baby-like craze - a second time up would prove btc is more than that.

Just remember history quite often repeats itself, and most people have very short memories. Especially when it comes to financial responsibility. Bitcoin will become the enforcer.

[scarsbergholden]

Lets just keep it a bit realistic and say 350 for each bitcoin within a month would be a nice growth even breaking the 300 per bitcoin mark to signal some new investors bitcoin is back

[vtr99]

Lets just keep it a bit realistic and say 350 for each bitcoin within a month would be a nice growth even breaking the 300 per bitcoin mark to signal some new investors bitcoin is back

Yeah, realistic like Greece defaulting on nearly $400 billion, and Puerto Rico defaulting on another $72 billion in the same week.  
Or 15 times Cyprus, when Bitcoin went through the roof. Not to mention the world has created about 40% more debt since then, derivatives somewhere around $1.4 Quadrillion, inflation is higher, interest rates near zero, and good paying jobs are a smaller and smaller fraction of the economy. Once the liberal Kool-Aid wears off there is going to be an intense hangover. That is just scratching the surface of where this ship is headed.

If experience has taught us anything, it's that these things happen with supposedly little warning. Usually there is plenty of evidence, but people refuse to accept the truth. I seem to recall back in 2008 the Fed telling us one morning that if we didn't print up a trillion dollars real fast the world's financial system would collapse. There were a number of credible economists pointing out the obvious, but everyone dismissed them as crackpots. The same thing is happening again, only this time it is exponentially worse.

http://www.businessinsider.com/hsbcs-stephen-king-on-the-world-economy-2015-5?google_editors_picks=true

The other thing that no one seems to be taking into consideration is how they expect a country like Greece to become a surplus nation?
Almost every country you can name takes on more debt each year. When will the credit cards run out? The fact is that there are very few countries that aren't bankrupt.

http://www.usdebtclock.org/world-debt-clock.html

It's all good, nothing to see here...

http://www.reuters.com/article/2015/07/07/usa-imf-idUSL1N0ZN14S20150707

At the moment the world's stock markets seem to believe there is a good chance of striking a bailout deal with Greece.

http://www.theguardian.com/world/live/2015/jul/07/greek-debt-crisis-alex-tsipras-seeks-last-chance-deal-live

If that doesn't happen, the downside is going to be bigger than most people imagine. There will be more defaults coming...

Bitcoin will be looking more and more like a bargain, and one of the few safe places to put your money.

http://www.latimes.com/world/asia/la-fg-asia-stocks-fall-20150708-story.html

[aztecminer]

If Btc crosses $1000 it will hit the news hard again, $5k+, maybe a lot higher - current levels to become a memory. Presently, the avg person still has no idea btc exists. The top could be a LOT higher than $1300, because all the doubters last time called it nothing more than a tulip/beanie baby-like craze - a second time up would prove btc is more than that.

Just remember history quite often repeats itself, and most people have very short memories. Especially when it comes to financial responsibility. Bitcoin will become the enforcer.

bernanke said that cyprus could become contagious.. then greece catches cyprus... and the media says greece should not be contagious... hhahhahha .. they know more about it than bernanke!

[prodigy8]

it sounds impossible,but who knows. we are a magic world,everything could happen. i think all of us hope it rising,the reasonable price around 300-400

[ANdr0id]

it sounds impossible,but who knows. we are a magic world,everything could happen. i think all of us hope it rising,the reasonable price around 300-400

What is meant by that? The cryptoworld is a magical place? If nothing to back it up then what? Investors run and people's coins go down with it.

[vtr99]

it sounds impossible,but who knows. we are a magic world,everything could happen. i think all of us hope it rising,the reasonable price around 300-400

There are about 1.4 TRILLION US Dollars in circulation. The value is artificially set with nothing real to back them other than "The full faith of the US government".

There are only a little more than 14 Million Bitcoins available. The value is set by difficulty and energy it takes to bring them into existence, and a consensus among all who use them. They also have "Special Powers" not endowed to ordinary fiat currency... There is no central bank, they cannot be stolen if properly kept, and they can be sent to anyone, anywhere in the world almost instantly.

Imagine for a minute where the value of Bitcoin would be if only a small percentage of the 9 billion people on Earth wanted to own one... 

[HarHarHar9965]

If somebody asks for a speculation to me, I would expect that bitcoin will slide a couple dollars up and hit 300$ mark soon. After a few months, it will slide down too. There will be fluctuation like always, but if major events constantly happen than involve bitcoin somehow (Greece economy collapse), then bitcoin might be of use very soon to much more masses and the value will multiply like crazy.

[tyrexs]

If somebody asks for a speculation to me, I would expect that bitcoin will slide a couple dollars up and hit 300$ mark soon. After a few months, it will slide down too. There will be fluctuation like always, but if major events constantly happen than involve bitcoin somehow (Greece economy collapse), then bitcoin might be of use very soon to much more masses and the value will multiply like crazy.

that mean greece economy collapse and people in greece will use bitcoin as a currency then price bitcoin will up. as you said bitcoin might be of use very soon to much more masses and the value will multiply like crazy. that will give big effect

[Amph]

well OP does have a point, the last 1200 was reached in few weeks, in a very short time, but it was triggered by a realistic thing that raised the influx of newcomers to a crazy level, and it was called Doge, it was basically the killer app that we are waiting now

greece is not comparable, is not something that would interest the entire world, and you need something like this to boost the price to 1200, or settle for a gradual increase...

[randy8777]

If somebody asks for a speculation to me, I would expect that bitcoin will slide a couple dollars up and hit 300$ mark soon. After a few months, it will slide down too. There will be fluctuation like always, but if major events constantly happen than involve bitcoin somehow (Greece economy collapse), then bitcoin might be of use very soon to much more masses and the value will multiply like crazy.

fluctuations make bitcoin interesting as investment. that will keep trading at a very good and profitable level for large traders. bitcoin is a great alternative for every one. but they just need to know that.

[manselr]

well OP does have a point, the last 1200 was reached in few weeks, in a very short time, but it was triggered by a realistic thing that raised the influx of newcomers to a crazy level, and it was called Doge, it was basically the killer app that we are waiting now

greece is not comparable, is not something that would interest the entire world, and you need something like this to boost the price to 1200, or settle for a gradual increase...

This is the reason why you should never sell, or sell only what for specific purposes (you need to buy something or whatever) but your main stack should remain quiet. The price surges in BTC are unpredictable. We are at 270 now and tomorrow we could wake up at near 1K again, the market is still too small and it only takes a couple whales feeling like buying + a ton of people following them in a panic buy movement to drive the price to the sky.

[RappelzReborn]

Mehh ... there is no way on hell that the price will reach that much on one month , Ireally don't understand where those predictions comes from , I mean no prooves or informations or whatever ...
Price will most likely won't reach that much on next halving block reward so ... next month ? just forget about it .

[brg444]

Mehh ... there is no way on hell that the price will reach that much on one month , Ireally don't understand where those predictions comes from , I mean no prooves or informations or whatever ...
Price will most likely won't reach that much on next halving block reward so ... next month ? just forget about it .

It happened once. How can it not happen again?

[gentlemand]

It happened once. How can it not happen again?

Anything can happen but that was a pretty unique set of circumstances. Chinese frenzy was the main driver. It was new and fresh then. Not so much now. I'll be fine with any movement beyond coma level.

[Scamc0p]

I can see it happen if all countries go to war with each other and cut economical ties. They will only have an opposing force such as bitcoin to rely on. They would still need a way to trade currencies anonymously 

[vtr99]

I'm not sure where the pessimism around here comes from... Litecoin is up over 400% compared to a month ago. Volatility is one of the primary features of Crypto currency. Considering the world economy, and all that's happened in the last week, Bitcoin could very easily top $1,000 in 30 days or less. There are no guarantees, but I'd say the chances are extremely good that we will see prices north of that before the end of the year.

As for China and things being fresh, it seems we are forgetting that they still own 80% of the Bitcoin scene, and control the bigger alt-coin exchanges. With recent volatility in the Chinese stock market, they could easily push the price over a grand in a day or two. Heck they just bounced $10 trillion in market value. Looking at their Crypto exchange volume, they are growing interest in Crypto faster than the rest of the world.

[RappelzReborn]

Mehh ... there is no way on hell that the price will reach that much on one month , Ireally don't understand where those predictions comes from , I mean no prooves or informations or whatever ...
Price will most likely won't reach that much on next halving block reward so ... next month ? just forget about it .

It happened once. How can it not happen again?

I wasen't there on November 2013 or whatever the year and the month was when the big pump happened but didn't that happen because of a huge Manipulation from Mtgox ? which is made by a bot called Willybot or something
and since Mtgox closed and no one is sure how they did , don't think it's gonna happen that easy this time