Predictions for the future value of Bitcoin short to medium term

[4325tgdfdfg]

Hi
I need to buy £1,000 worth of bitcoins right now, however I am worried that the recent spike means it maybe a bad idea because of the possibility of it devaluing again. I don't have much knowledge on the predicted future value of bitcoins. For those of you who do, do you think they will hold their current value at least? If not, what chance do you think they have of crashing in value? Thanks!

[kinder112]

I think that even if we see a downfall it will be temporary, but it might not even happen. Yesterday when it went down to 77usd was great time to buy. Right now I think that it will be oscillating in 80-90$ boundaries. Breaking 100$ will be hard a psychological barrier (AT field) and will probably lead to even higher value.

[carborundum]

Price is following waves of publicity and crisis. Both should settle down after the Cyprus business short/medium term. I see it dropping right back $40-50 in the coming weeks/months. But the next crisis will be bigger and will push it over $100 easily..... I pulled this out of my ass btw

[user123]

1000eur before 2015.

[bumpaments]

From what I can tell 95%+ of the price movement of bitcoins is based on market speculation and almost nothing is based on fundamentals. Future speculation is extremely hard to predict and should make for a very volatile bitcoin price...

I'm new to this asset but my overall impression is that it is quite overvalued at current prices. However-- that doesn't mean the price can't climb even higher in the short/medium term