[Poll] Will BTC reach its previous all time high by the end of 2013?

[BitWulf]

From what I have read in the speculation forum there are some interesting and sometimes radical claims from BTCulls and BTCears alike as to what direction bitcoin will take in regards to its fiat value. I want to consolidate these varying opinions into a poll.

Users can change their vote as time progresses toward polls conclusion 60 days from now.

Given bitcoins great rise from humble beginnings it will be interesting to see what will happen next. 

[1715615245]

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[BitWulf]

Edited poll to add more detail.  Votes have been reset.

[nobbynobbynoob]

The brutally honest answer is I don't know. I think it's very possible, however. If, on the other hand, we experience a short-term decline akin to the post-bubble decline of 2011, it should be a softer landing than back then. I wouldn't be too shocked if we drop back to $80ish for a bit, however. I have a small "lowball" buy order ready.

I'm no serious daytrader but I'm dipping my pinky in a bit with very small change and (slowly) reading Candlestick Charting for Dummies so I can maybe learn a few more tricks. Soon I'll be tearing up the stocks and commodities markets and raking in the millions... or not.

[hybrid]

I'll edit this post as time goes on to add information, but I won't delete anything.
2013-05-19:  I think we will reach a high of $221 at some point from now until the end of the year, and then break through $360 around Spring of 2014 like a hot knife through butter.   I would love to see bitcoin reach $500 by year end, and there is a very good chance it will, but I'm usually wrong so I'll stick with $221 for now..

[BitcoinAshley]

I'll edit this post as time goes on to add information, but I won't delete anything.
2013-05-19:  I think we will reach a high of $221 at some point from now until the end of the year, and then break through $360 around Spring of 2014 like a hot knife through butter.   I would love to see bitcoin reach $500 by year end, and there is a very good chance it will, but I'm usually wrong so I'll stick with $221 for now..

You mean like, 'Bitcoin Spring' ? 
The spring when the meek inherit the earth (or, rather, tons of money) and the evil bankster cartels are defeated once and for all? I like the sound of that 

[Zaih]

I have no doubt what so ever that we'll see that price again.

[dree12]

I think we're entering a period of relative stability, which is really a golden age for adoption. During our last period of stability, we got WordPress (the largest company to accept Bitcoin yet) on board. So I voted no, but I think that's a good sign.

[BitWulf]

So far it seems that people have a positive outlook for the future of bitcoin. A lot can happen in 7 months!!

[BitChick]

So far it seems that people have a positive outlook for the future of bitcoin. A lot can happen in 7 months!!

A lot can happen in 7 weeks, 7 days or even 7 minutes.    Hopefully in the positive direction though.

The week after we decided to first invest in bitcoin the price doubled, then the following week it tumbled back down to lower than when we bought so it was a really crazy ride for us so far.  We are just holding and waiting at this point.

[Zangelbert Bingledack]

I predict relatively steady exponential growth for the next few months, later getting more volatile/bubbly and bringing us well into the thousands or even tens of thousands of dollars per bitcoin by year end.

[BitWulf]

So far it seems that people have a positive outlook for the future of bitcoin. A lot can happen in 7 months!!

A lot can happen in 7 weeks, 7 days or even 7 minutes.    Hopefully in the positive direction though.

The week after we decided to first invest in bitcoin the price doubled, then the following week it tumbled back down to lower than when we bought so it was a really crazy ride for us so far.  We are just holding and waiting at this point.

damn! that's exciting. Would like to see my first BTC investment double in a week.

[Hyena]

bitcoin will rise 1000% soon because I need to buy myself an apartment. I'm tired of being my mom's basement dweller. therefore, bitcoin has to rise.

[BitWulf]

Will be interesting to say the least. It's still sitting.

[chiropteran]

Yes.  The holdup is difficulty, it's too low.  When price exceeds difficulty by a certain ratio, it tends to correct back downwards.  This occurred during the $31.90 bubble, and the $266 bubble.  As long as price doesn't exceed difficulty by more than this ratio, all is fine though, so after a few months of difficulty adjustments we will be clear for $300 and beyond.

[nobbynobbynoob]

Yes.  The holdup is difficulty, it's too low.  When price exceeds difficulty by a certain ratio, it tends to correct back downwards.  This occurred during the $31.90 bubble, and the $266 bubble.  As long as price doesn't exceed difficulty by more than this ratio, all is fine though, so after a few months of difficulty adjustments we will be clear for $300 and beyond.

But difficulty doesn't really drive price directly, more the other way around, because if bitcoin is worth more then it's logically more worthwhile to go to the trouble of trying to mine it, even with antiquated technology like GPU rigs.

[master-P]

I don't see any indicators that would point to bitcoin breaking the previous high in the next few months. Things could be different by the end of the year though.

[chiropteran]

But difficulty doesn't really drive price directly, more the other way around, because if bitcoin is worth more then it's logically more worthwhile to go to the trouble of trying to mine it, even with antiquated technology like GPU rigs.

In theory it doesn't, but in practice every time the price has gotten way out of whack with difficulty there has been a big correction.

[dree12]

Yes.  The holdup is difficulty, it's too low.  When price exceeds difficulty by a certain ratio, it tends to correct back downwards.  This occurred during the $31.90 bubble, and the $266 bubble.  As long as price doesn't exceed difficulty by more than this ratio, all is fine though, so after a few months of difficulty adjustments we will be clear for $300 and beyond.

But difficulty doesn't really drive price directly, more the other way around, because if bitcoin is worth more then it's logically more worthwhile to go to the trouble of trying to mine it, even with antiquated technology like GPU rigs.

As long as mining remains a relatively-large portion of the Bitcoin economy, standard economic forcings apply. Lower difficulty means more profit for miners, and therefore greater velocity and inflation. This will continue to happen even when the block subsidy is zero. Its effect will lessen as mining takes an increasingly reserved and diminutive role in the economy as a whole.

[BitWulf]

Should have bought some LULZ

[Rupture]

It will quadriple the April high by the end of the year