Bitcoin will either die or stabilize around 200-500 dollars

[Rav]

Bitcoin technology is still in its infancy. The crazy volatility is expected with any disruptive, potentially paradigm shifting, new technology. When the infrastructure matures and it becomes easier for the general public to buy and secure their coins, the adoption rate will explode and the value will continue rising exponentially. We're just not quite there yet. The recent rise was fueled by speculators in China and the corresponding media attention given to it in other countries. The panic selling is caused by the same thing, mainly fueled by the Chinese government issuing an official statement on how bitcoins will be regulated for now. It is no where close to reaching its full potential. It'll likely take several years until we know its true worth, given that no devastating flaws or exploits are found in the protocol and it doesn't become worthless. Selling your coins right now is an emotional and extremely short sighted decision, in my opinion.

[PenAndPaper]

But please, sell all your coins. It's just better for us, the believers who think this small fluctuation doesn't mean anything, as we can stack up our Bitcoins (or are you also following this strategy? That would make sense to post a message like that).

By believers you mean those that think a -50% in price as a small flunctuation... It looks more like beliebers to me 

[naphto]

I sold my bitcoins i had bought at 1000dollars, yes i lost nearly half of my investment, but better than losing it all.
Bitcoins will stabilize around lower than the 500 dollars which would be its true value and it most likely won't rise beyond that number.
I think the best would be to sell now and save whatever you can.

Why did you buy btc at 1k usd at the first place?
Does not make sense ...

[realizt]

I know this is a newbies section but please spear your groundless speculations, if you have no theory for your speculation then please keep it to your self. There is no such thing as a stabilization when referring to bitcoins, that is if your using proper terminology. Since the amount of bitcoins is constantly increasing, it should of course inflate in an equal pace. Otherwise there would eventually not be any profit in mining and thus the system would come to a halt. So in the rational manner the value of bitcoin should keep rising but perhaps not in the kind of movement we have seen the last couple of weeks but also in the beginning of the year.

Depending on the kind of vision one has regarding bitcoins the value would differ completely. If you see the currency as some kind of substitute to the conventional fiat currencies then the value of bitcoins must rise to a much higher number. Lets say that the we have reached 21 million bitcoins and the value would be 1000 usd, then the total value of all bitcoins would be  21 000 000 000 (21 billion USD). If we compare that to the total value of banknotes and coins in a single nation, lets say Sweden. Sweden has a total value of all banknotes and coins in circulation of 14,8 000 000 000 (14,8 billion USD), which means that after saturated Swedens demand of banknotes and coins the total value of bitcoins would only still be at 6,2 billion USD.

Basically, the value of bitcoins needs to increase significantly inorder to achieve any kind of prosperity.

[Winston251]

Bitcoin will probably drop to around $400 and then slowly climb to $1500 over the next year.

[thedarksun]

Why did you buy btc at 1k usd at the first place?
Does not make sense ...

It had been around 1k the last perod of time so i never thought it would drop significantly.

[gibrometro]

It will raise next week and move over 1000$ for sure.

Keep patience. But make your own decision.

Everyone including me, might not give you a perfect suggestion.

All are just thoughts.

As the year end comes, bitcoin doesn't correct itself quickly. It will go higher in next week.

[naphto]

It had been around 1k the last perod of time so i never thought it would drop significantly.

1 month ago the price was less than 200 usd.
Price rise was recent, and not "stable" at all.


:/

[PenAndPaper]

I sold my bitcoins i had bought at 1000dollars, yes i lost nearly half of my investment, but better than losing it all.
Bitcoins will stabilize around lower than the 500 dollars which would be its true value and it most likely won't rise beyond that number.
I think the best would be to sell now and save whatever you can.

Why did you buy btc at 1k usd at the first place?
Does not make sense ...

It looks like everyone was thinking that it actually makes sense. Before the china announcement that is.

[BurtW]

Why did you buy btc at 1k usd at the first place?
Does not make sense ...

It had been around 1k the last perod of time so i never thought it would drop significantly.

1) Only use money you are prepared to lose - and I mean lose it all.  That way you won't panic when it goes down.

2) You lost about half your money.

3) If you are prepared to lose the other half (see point #1) then buy back in - if not then you are done (until you have some extra money that you are prepared to lose)

4) WAIT.  That is all you have to do.  If you buy back in at $700 you WAIT until it is $1400 then you are pretty much flush.

5) Then the hard part is to figure out when to sell and how much you want to make.

[Bobbydiggital]

Why did you buy btc at 1k usd at the first place?
Does not make sense ...

It had been around 1k the last perod of time so i never thought it would drop significantly.

1) Only use money you are prepared to lose - and I mean lose it all.  That way you won't panic when it goes down.

2) You lost about half your money.

3) If you are prepared to lose the other half (see point #1) then buy back in - if not then you are done (until you have some extra money that you are prepared to lose)

4) WAIT.  That is all you have to do.  If you buy back in at $700 you WAIT until it is $1400 then you are pretty much flush.

5) Then the hard part is to figure out when to sell and how much you want to make.

Or  for  part 5 you can just si on them for a very long term investment and make alot of $ just dont look at the daily swings comeback and see the value in 3-4 years. Retirement!

[outofservice]

Its on its way back to 500, i would assume it will keep repeating this pattern for a while before finally stabilizing under 500.

I pray it goes to 500!! Would buy a bunch at that price with full confidence it's going to go back to and pass 1k.
Seriously, Please let it hit 500 or less again!... I'm p*ssed that I was asleep when it hit 600! Would have bought then because 650 was my speculated low.

We see it stabalized at 700-750 now. How can you realistically see it dropping to even 600 now??

If the news out of China recently only caused some to Panic Sell and not a real crash that should only show how strong and resilant it has become along with the demand and value it has.

[jongameson]

No need for praying.  Bitcoin is going up to $1,000,000 / coin

this is ONLY the beginning
and this latest downslide will look as miniscule as the one in 2011 or April of this year

[outofservice]

No need for praying.  Bitcoin is going up to $1,000,000 / coin

this is ONLY the beginning
and this latest downslide will look as miniscule as the one in 2011 or April of this year

A mil would be a dream but we have some serious time before that happens. Not saying I don't believe it will get there, I do see some Serious value in the future, just saying it will be a while to that point.

Curious as to what you think... Do you think it will drop again? if so, how low?

[rammy2k2]

I sold my bitcoins i had bought at 1000dollars, yes i lost nearly half of my investment, but better than losing it all.
Bitcoins will stabilize around lower than the 500 dollars which would be its true value and it most likely won't rise beyond that number.
I think the best would be to sell now and save whatever you can.

u're one of those "panic sell" category , i like you people, i can buy cheap from u

[naphto]

No need for praying.  Bitcoin is going up to $1,000,000 / coin

this is ONLY the beginning
and this latest downslide will look as miniscule as the one in 2011 or April of this year

1 million usd per btc? Lol.
You should stop dreaming

[teotyp]

No need for praying.  Bitcoin is going up to $1,000,000 / coin

this is ONLY the beginning
and this latest downslide will look as miniscule as the one in 2011 or April of this year

1 million usd per btc? Lol.
You should stop dreaming

Or maybe he should stop trolling

[beetcoin]

In the long run, as long as major network problems don't ruin it,  bitcoin should continue to rise because it's supply is defined and actually decreasing.  This is because it's the first of its kind and the crypocurrency that people have heard of.  Alt coins have really never been in the news.   If only I bought when I saw it at $500 last night.

the supply is not decreasing.. it's still increasing. if anything, the demand is outpacing the mined bitcoins though.

[pand70]

No need for praying.  Bitcoin is going up to $1,000,000 / coin

this is ONLY the beginning
and this latest downslide will look as miniscule as the one in 2011 or April of this year

1 million usd per btc? Lol.
You should stop dreaming

He is not the only one. That guy thinks that bitcoin can reach 1m$
http://www.businessinsider.com/hugh-hendry-bitcoin-could-hit-1-million-2013-12#ixzz2mWwXWByB
and this one thinks for 2.8m $
https://bitcointalk.org/index.php?topic=352650.0

[discretesound]

No need for praying.  Bitcoin is going up to $1,000,000 / coin

this is ONLY the beginning
and this latest downslide will look as miniscule as the one in 2011 or April of this year

1 million usd per btc? Lol.
You should stop dreaming

He is not the only one. That guy thinks that bitcoin can reach 1m$
http://www.businessinsider.com/hugh-hendry-bitcoin-could-hit-1-million-2013-12#ixzz2mWwXWByB
and this one thinks for 2.8m $
https://bitcointalk.org/index.php?topic=352650.0

One can only dream