I agree.Patience is needed and a price around $700 is still a realistic aim for the end of that year.
But I wouldn't expect much more than that.
If we should reach the ~700, a bit more or less doesn't really matter, we then had a really good run in 2016!
Remember that 13 months ago we had been in the 200s!! Therefore I see this as a really strong comeback of Bitcoin in terms of price this year!!
And that is yet another good point. If things taken in proper perspective, 2016 has been a great year so far.
Great growth and with price now around $600-650, people who had enough patience got quite a chunky gain.
It is all about how realistic price expectations you may have. I know that many were expecting moon or beyond, just because of the halving.
They put their 0.1
BTC hoping it will grow 10 or 20 fold, just like that. Well, that is not that easy, and I hope that was a good lesson for them how difficult it is to even double the price from where we are now.
Seeing the progress of bitcoin price the recent year that fluctuating but last day reach $685 is so good for two months come back after it was go down to $450s. Overall bitcoin has potential to grow more than $700 in this year or next years, like you said, it's a good year and patience.