"The price of bitcoin could increase to as much as $98,500, according to analysts at financial services and investment firm Wedbush Securities."
"Many people have been asserting that the current high value is merely a temporary spike and that it will soon plummet to the level seen in September and October (around $120-$150), or perhaps even lower.
Luria and Turner disagree, believing the value will continue to increase over the coming years. They said:
“We believe rising bitcoin prices help build the network thus entrenching its value, especially vis-à-vis other alternative coins/conduits. Based on this framework, we would postulate that current bitcoin prices reflect a peak penetration of 1% of total potential demand in 10 years.”
Last month, the Winklevoss twins remarked that they envisioned bitcoin increasing by 100 times. At the time of their comments, the price of bitcoin was $343, so the value has already increased by over 211%.
Speaking to CNBC at the Dealbook conference in New York, Tyler Winklevoss, who was involved in the creation of Facebook, said: “Some people definitely view [bitcoin] as Gold 2.0.”
Erik Voorhees, who sold gambling site SatoshiDice for 126,315 BTC this year, said this showed what a “respectable asset” bitcoin is becoming.
“Clearly, bitcoin is no longer a penny stock. It’s playing in the big leagues – a share being worth more than a share of Google or Apple, and even more then an ounce of gold,” he said at the time.link
http://www.coindesk.com/bitcoin-price-reach-98500-say-wall-street-analysts/
