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Gordonium (OP)
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September 04, 2013, 05:58:32 PM |
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What do you think?
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Joerii
Legendary
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Activity: 1274
Merit: 1050
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September 04, 2013, 07:05:25 PM |
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What we see in on the long term chart of BTC are recurring, very large rallies follow by large corrections.
It's said to be normal for every new big rally to reach around double the height of the previous one. Since we reached $260 last time, over $500 should be expected with the next rally. $1000 is the one after that.
Now for when ? I belive we're almost recovered of the latest correction and the next big rally is coming soon. Maybe in one or two months ? The rally after that one, 5-6 months later ? So i guess I'm calling it : $1000 BTC in spring 2014
I'm pulling these numbers out of my ass, of course, but I think they're not unreasonable or overly fatastic.
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Hypercube - get the attention you deserve
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Melbustus
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September 04, 2013, 07:29:48 PM |
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Years.
Bitcoin is a game-changing technology with a bright future, but these things take time. Off to a great start so far. But it's still very early in the game.
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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alexeft
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Activity: 854
Merit: 1000
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September 04, 2013, 07:41:48 PM |
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Years.
Bitcoin is a game-changing technology with a bright future, but these things take time. Off to a great start so far. But it's still very early in the game.
+1 |
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leemar
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September 04, 2013, 07:54:19 PM |
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I think three things are needed…. 1. Stable exchanges with seamless banking facilities to move fiat in and out easily. Look for the first really Bitcoin friendly banking announcements. 2. The gaming industry to really get behind Bitcoin, http://upstart.bizjournals.com/money/loot/2013/09/03/bitcoin-casinos-in-the-future.html?page=all3. International exchanges mature to make remitting a simple option. 1 + 2 are probably enough to get to $1000. 3 to move well beyond, no idea when/if this will happen. |
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mgio
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September 04, 2013, 07:59:22 PM |
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When and if the Winklevoss ETF is approved.
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leemar
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September 04, 2013, 08:00:00 PM |
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When and if the Winklevoss ETF is approved.
+1 |
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matt608
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September 05, 2013, 09:03:15 AM |
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No sooner than 5 years, but I do think it will get there.
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MrVivaldi
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September 05, 2013, 09:09:05 AM |
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Soon enough. The question is not when, the real question is how many are you able to accumulating and what the purchasing power of that arbitrary number of dollars will be.
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sgbett
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Activity: 2576
Merit: 1087
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September 05, 2013, 11:12:23 AM |
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I also vote 2014, probably summertime, and the volatility will still be such that you'll see several percent swings on several days out of any given month.
The $10 swings today will be $100 swings... crazy times. Gonna be real hard to hold tight!
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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Tirapon
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September 05, 2013, 11:25:36 AM |
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My guess: next year some time, assuming continued rate of growth and development. Unforeseeable circumstances could change that either way; Winklevoss ETF could cause a massive rally if it gets approval, on the other hand bad news such as a government ban could set things right back. What would be interesting in such a case would be how other governments react - e.g. if there was a ban in the U.S, how would China/Russia/Europe respond?
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Xiaoma
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September 05, 2013, 12:55:05 PM |
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I think we are pretty near to the end of this correction phase, back over 200 by December, bulls time until 500 next summer. Next bear months so.. not 500 again (but stable) until 2015. There is the next rally that could move BTC to 1000.
So, being fairly optimistic, not touch it before summer 2015. Still, name many investments that get 10x in just 2 years. It will only work if the infrastructure improves.
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Zaih
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September 05, 2013, 02:28:25 PM |
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26 hours
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600watt
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Activity: 2338
Merit: 2106
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September 06, 2013, 07:16:30 AM |
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adworker
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September 06, 2013, 07:20:15 AM |
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What do you think?
No one knows, maybe never because there is nothing like profit without risk associated |
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Pokerfan
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September 06, 2013, 07:27:40 AM |
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I don't think $1000 is possible until the block reward halves. So no earlier than 2016.
Of course, if fiat currencies collapse before then, the sky will be the limit.
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over1977v
Member
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September 06, 2013, 07:36:36 AM |
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Of course, if fiat currencies collapse before then, the sky will be the limit.
Yes, but hitting $1000 when $1000 is still very interesting amount will be much harder I guess |
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painlord2k
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September 08, 2013, 08:10:26 PM |
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Next year around summer.
In spring 2011 BTC hit 1 USD
In summer 2012 it hit 10 USD
In spring 2013 it hit 100 USD
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In summer 2014 it will hit 1.000 USD
It could be earlier, because the quantitative easing of USD is inflating the USD base a lot faster than BTC base is inflating (even with ASICS being deployed).
If mass adoption continue, the pressure to the price will become stronger and stronger.
As the price increase more and bigger transactions will be possible.
Currently 1 M USD transaction will rock the exchange at 100 USD, so they are rare.
If the price go to 200 the 1 M transactions will become more easier to do and more common and this will push the price higher.
It appear small potatoes now, but from July we doubled the price of BTC in USD (around 60 days).
Other 60 days and we could be around 260 again without fireworks.
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600watt
Legendary
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Activity: 2338
Merit: 2106
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September 08, 2013, 08:16:56 PM |
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+1
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telemaco
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September 08, 2013, 08:42:10 PM |
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I think it's grow maybe somewhat delayed by the high value of each BTC. If we were always talking about mBTC, the common populace would probably adopt it much easier.
One thing is to have one BRK-A (Berkshire Hathaway share, Warren Buffet !!!) at >100K $ or on Google share at 850$ (hell it is google!!) and another is to have some mysterious coin that might work or not in the future (again for the common people) valued at 1000$
Now if one new guy goes to Bitstamp and buys 950 mBTC he probably is very happy with it. He probably won't be so willing to spend so much money for a 0.950 BTC.
Just some thoughts though. Maybe some marketing/sales people can provide some light on this.
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