Where will Bitcoin go

[Packman1444]

Right now Bitcoin is experiencing a downward trend. Where do you guys think Bitcoin is headed? Is the coin starting to collapse and cease to exist? (May be drastic but reading the speculation forum will make you think that lol)

[fritzthecat]

Unless it crashes and burns like we see atm.

[gweedo]

Unless it crashes and burns like we see atm.

It is highly unlikely, but not impossible. If you think this is a crash and burn then you have a lot to learn. This is far from a crash and burn very far from it, but allows to teach people that they need to hedge.

[fritzthecat]

Unless it crashes and burns like we see atm.

It is highly unlikely, but not impossible. If you think this is a crash and burn then you have a lot to learn. This is far from a crash and burn very far from it, but allows to teach people that they need to hedge.

Would you at least consider the 2011 crash or the more recent meltdown as a proper crash and burn, young grasshopper?
On another note, i dont think thats possible nowadays, since to many people have FIAT just waiting to get in.
Unless some major shit goes down like Gox bankrupt or no more wires for btc.

[fritzthecat]

This may be normal for an emerging "currency"(which btc are not btw), but i would consider a drop to 1/5 of its value a crash.

[eCoinomist]

I think the prices will bounce back to around 120 USD, that's where it belongs

[bitcoinator]

I think it will bounce up from $50 and stagnate at ~$100 till the new rally in winter.

[bitcats]

I think it will bounce up from $50 and stagnate at ~$100 till the new rally in winter.

Probably right.

[naphto]

Bitcoin will stay on internet + it has no legs to move

[gambit1]

Nobody knows what the "real" price of bitcoin is. Its price is determined almost entirely by speculative forces.

Finding out the "real" price of bitcoin would be a process of discovery that would take at least decades. The real bitcoin economy would have to grow to a point where it actually mattered in determining the price. Macroeconomic factors such as prices and wages would need to matter.

As long as the price of bitcoin is determined by speculative forces then it is unwise to talk about the "real" price, in my opinion.

I hope we see an unswing in price soon.

[fleabag]

who cares if it goes down or up. you would have to be a fool to actually invest in something that is intangible, unregulated and any other adjective that would describe the wild wild west. people quit throwing good money after bad. what are the excuses this week for the price drop? correction? bull trap? bank closed? pathetic

[bitcoinator]

who cares if it goes down or up. you would have to be a fool to actually invest in something that is intangible, unregulated and any other adjective that would describe the wild wild west. people quit throwing good money after bad. what are the excuses this week for the price drop? correction? bull trap? bank closed? pathetic

some people invested and made unbelievable profits... and you did invest in it (your time at least).

[Rampion]

Unless it crashes and burns like we see atm.

The flames are nowhere to be seen, its just in a downtrend because the bubble is deflating.

It happened in 2011, the bottom was 1/16th from the top, and then it raised stronger. Nothing to be worried about, to the contrary a bubble deflation means that we will reach a point in which BTC will be seriously undervalued, and that will be a killer buying opportunity. Be glad you had the chance to catch that opportunity.

[fleabag]

Unless it crashes and burns like we see atm.

The flames are nowhere to be seen, its just in a downtrend because the bubble is deflating.

It happened in 2011, the bottom was 1/16th from the top, and then it raised stronger. Nothing to be worried about, to the contrary a bubble deflation means that we will reach a point in which BTC will be seriously undervalued, and that will be a killer buying opportunity. Be glad you had the chance to catch that opportunity.

Drink some more Kool-Aid. Individuals cant move the market anymore there are too many people involved now. True colors are shining through now. Alot more sellers and not many buyers. I think this trend continues for as long as there is a need for this specific coin.

[rdrgpaz]

Bitcoin is going to my wallet, but I dont know when it will happen to

[gambit1]

Fleabag: I bought this currency when it was around $4. You are asking me to see a price of $79 as some sort of cataclysm??

Why would a price drop to $79 need an excuse. The price was less than that a few months ago. Then it went up. Then it came back down.

"you would have to be a fool to actually invest in something that is intangible, unregulated and any other adjective that would describe the wild wild west." I agree about this point concerning fiat currency but this is a bitcoin forum.

Seriously, why would have to be a fool to invest in bitcoin. Like anything else, some people have made a lot of money investing in bitcoin. If the price is unstable then people have more opportunity to make money. If you are talking about holding bitcoin long term as an asset class then your point is slightly more reasonable.

[Cryptomaker]

$10 or lower

[WilMay]

There are to much ASICs with big GH/s entering the network.
The price will decrease to 50-60$ till winter

[fleabag]

Fleabag: I bought this currency when it was around $4. You are asking me to see a price of $79 as some sort of cataclysm??

Why would a price drop to $79 need an excuse. The price was less than that a few months ago. Then it went up. Then it came back down.

"you would have to be a fool to actually invest in something that is intangible, unregulated and any other adjective that would describe the wild wild west." I agree about this point concerning fiat currency but this is a bitcoin forum.

Seriously, why would have to be a fool to invest in bitcoin. Like anything else, some people have made a lot of money investing in bitcoin. If the price is unstable then people have more opportunity to make money. If you are talking about holding bitcoin long term as an asset class then your point is slightly more reasonable.

no $79 for you isnt a cataclysm because you are up if indeed you held from $4 til now. but then if you are still holding, dont you feel a little pissed that you could have sold even in the 100's?

[gambit1]

Of course. I wish so many things.

One thing I wish is that I had made a greater investment in bitcoins in 2011.
I wish that when I sold a portion of my holding, I did so at a higher price.

I appreciate that you are upset by the current price drop. However, there won't be many on this forum who could not have done better or for whom things could have gone better.

The price will probably go back up and therefore I am not too unhappy. In the long term I think that bitcoins price will go up because of two fundamental factors:

*It is a good idea and there is a need for it in the long term.
*The worlds population is over 6 billion and rising and there will only ever be 21 million bitcoins.

Therefore I think that holding bitcoins over the long term is a good idea.