Here's a simple reason why it will never reach $1,200 ever again: most hodl'ers will dump when the price reaches $1,000, for fear, well-founded, that it will CRASH back down to $120.
Plus, there's no more willy bot or the Chinese buying in droves like they did before. The pre-halving rise this past June showed the limit is under $800, not over $1,000. The age of innocence is over for bitcoin, we've entered the middle phase, a mature phase if you will. No more x10, or x100 rise in one year. We are only going to 10%, 20% rises. If you're still waiting for $1200 bitcoins, you are waiting for Mr. Godot.
there is still a lot of manipulation going on with bitcoin and on these big exchanges. why do you think bitfinex came back from the 120K
BTC loss?
it may not be as fast as mtgox because there are more exchanges today but it is still possible to see a pump that huge and even in case of a $1000+ rise there will be a dump but only in your dreams price crashes to $120.
