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Author Topic: [2015-12-30] Why I'm Predicting a $650 Bitcoin in 2016  (Read 143 times)
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December 31, 2015, 12:21:33 AM

On 23rd July, I predicted on Quora that the price of bitcoin at the end of the year would rest around $420.

It appears at press time that I was not far off. As of 30th December, the bitcoin price is around $425. It seems I identified what many in the cryptocurrency community were predicting – 2015 was the year the bitcoin price would experience the slow and steadier growth it needed.

In previous years there were a lot of unknowns in the cryptocurrency world. It was often believed that a better currency may come along or that bitcoin was just another form of the fabled 'Tulip Mania', a period in the Dutch Golden Age used as an example for when the price of an asset outpaces its intrinsic value.

And these concerns were real possibilities because bitcoin was new, and there were growing pains it had to overcome.
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