Bitcoin Price Predictions

[Dargo]

From a technical charting perspective, if it is currently building a base under $30, and can break out of this base on heavy volume, a reasonable target would be a 100% extension from the base - i.e. about $60 dollars. This is a pattern often seen for stocks. Obviously we are talking about a currency here and not a stock, but it has already been behaving more like a crazy momo stock than a currency, so it may continue to do so in the future. So the bullish scenario would I think put BC at $60, and it could go much higher. The bearish scenario is that it has already had the only run its going to have, and will slowly die from here. IMO, the bullish scenario is more likely, but that's just an opinion. Another few weeks should bring a little more clarity. I don't have any idea about time frames, but the longer it takes to build a base under 30, the more powerful the move can be once it finally breaks out.

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[markabark]

It doesn't appear that geekdom is losing interest... the overall hash rate is almost at 12Thash/sec and keeps increasing.

[arsenische]

I think everything depends on us. We need to develop and advertise bitcoin services. World economy size is estimated as 7*10^13 US dollars (http://en.wikipedia.org/wiki/World_economy). If all people use bitcoins instead of fiat money, then all this value will be expressed in 2*10^7 bitcoins, that is $3 500 000 per bitcoin I think it will never happen, but I would be happy if we could get 0.01% of that by 2012 ($350/btc)

[Paul4games]

July - $20
Aug - $23
Sep - $27
Oct - $30
Nov - $28
Dec - $32

[cliffhopper]

As long as hash rate keeps increasing, the miners will demand a profit for btc. Mining stabilizes the price.

[doldgigger]

I think everything depends on us. We need to develop and advertise bitcoin services.

It is especially important not only to provide bitcoin services, but also to truly calculate the costs in bitcoin for these services. As long as people pretend to provide services for bitcoin, but actually calculate in USD, EUR or whatever other currency and just transform it to bitcoin at the time of payment, exchange rates won't easily stabilize as every fluctuation changes the prices in the bitcoin economy.

[Gamerate]

It's seems currently stable at $13-15 range...
But I presonaly think if few weeks we will see it rally up

[divebubble]

July - $16
Aug - $20
Sep - $22
Oct - $30
Nov - $42
Dec - $51

[TheGrapist]

i hope to have some miners going soon,let's all cross our fingers for $50+/btc

[Einewton]

July $14
Aug $15
Sep $14
Oct $13
Dec $15

I would love to see it jump up, but i'm just not seeing it with the current market.

[doldgigger]

The price might become much more stable soon: When there is enough opportunity to short-sell bitcoins (as CampBX plans to allow soon), there will be a financial incentive for those who think they can wreck the bitcoin network - they can bet against the bitcoin and try to make the network collapse after that. Either they succeed and the bubble bursts, or this will prove that bitcoin is robust enough to stay. In the latter case, I assume the price will go up as people will be able to put more trust into the bitcoins.

[jer]

this is a currency.
it has no earnings.
it has no history of being a store of value.

This reminds me somewhat of something I read in the newspapers about 8 years ago: at the time, lots of folk were buying houses speculatively: not for the income they'd get, but for the capital expenditure. A well-known pop economist over here said something like "You don't invest for capital increase, unless you're mad or suicidal. You invest for return if you're sensible."

Currencies are not for investment, but a vehicle. Some folk are buying bitcoins in the hope of capital increase. This is a valid gamble/speculation, but is not an "investment"; no value is created, so no dividends/return is possible. An increase on capital is possible, but this is pure speculation, especially in as small a currency as btc.

Jer

[Donald_Norman]

Depends on when the next crash is

[jl]

The bearish scenario is that it has already had the only run its going to have, and will slowly die from here.

I fear we are here currently

[notme]

As long as hash rate keeps increasing, the miners will demand a profit for btc. Mining stabilizes the price.

There is lots of new mining with this cycle.  Some of them will sell out of fear if it the consolidation takes too long.

[Donald_Norman]

$100000.50

[Grouver (BtcBalance)]

You cannot predict this correctly.
There is no way..

The only way to predict its value is to know what will happen in the feature in our society.

For instance:
Will Tradehill get hacked?
Will some rich guy invest a million dollars?
Will some early adopter sell half a million Bitcoins and get the whole market screwed up.
Will a nasty major trojan infect thousands of people and get there wallet stolen.
Will Bruce his tv ad hit mainstream?
Will Bitcoin hit CNN?
Will Greece adopt Bitcoin as there curreny?

Etcetera...


There is no way to predict this.
Its all depended of major events wich will get Bitcoin negative or positve publicity.
I do no understand why people base there predictions on past grow rate.

[joulesbeef]

true you cant predict with very much accuracy.

You can make some educated guesses but even these are of limited use.

It doesnt stop professional economists from doing this exact same thing every day.

Just cause I dont have a sound machine that makes lots of noises when I make a prediction, doesnt mean I cant and Kramer can.


Anyways I see the price sliding  for the next few weeks to 10 or below, interest in coins peeked a few weeks ago. Google trends is plummeting. I'm hopping to see a major poker or two site pick up the coin as the user created ones are getting busy and I do think gambling would help especially considering the conditions in the US. Long term i am still a bit bullish, I think it is still a bit confusing for the sheeple and they dont quite understand it;s uses beyond the blackmarket but over time they will come around.

[jagminer2]

July - $20
Aug - $23
Sep - $27
Oct - $30
Nov - $28
Dec - $32

I wish/hope

[rooroo]

July - $20
Aug - $23
Sep - $27
Oct - $30
Nov - $28
Dec - $32

I wish/hope

Can only see it going down...