Predictions of key future events that could influence the price of Bitcoin

[danonthehill]

We have all been reading about the effect of Chinese legislation and its recent impact on the the price of BitCoin.  Also some emphasis seems to be placed on recognition of its potential as a currency by big names in finance and politics in the USA.  But what do you think the significant events will be in the future that could influence the price of Bitcoin? i.e. responses to Bitcoin from other large economies such as India and Brazil, acceptance by large online corporations etc., or any other changes whether political, technological, social or financial.

And what are your predictions?

[Perspicacity]

I see it as essentially the power of the people vs. the power of governments.  It's pretty clear by this time that the people want what Bitcoin provides, and I believe if left unmolested, Bitcoin's price, popularity, acceptance and ubiquitousness will expand gigantically.  The wrench in the works will be governments' fear of Bitcoin and their consequent actions to regulate, tax, and perhaps manipulate or even eliminate it.  Frankly, I can't see how any government in these knee-jerk reaction times wouldn't see Bitcoin as a huge threat to the perception of their own currency's stability and their citizen's confidence in it.

So I predict that the future events we're talking about here will be specific government actions, whether more or less benign (hopefully) or draconian. 

One thing that does have me bamboozled, though, is the difference between the price of Bitcoin and the relative acceptance and dissemination of Bitcoin.  I'm not sure there's a substantial link there.  The US Dollar is, of course, widely accepted throughout the world, but that univeral acceptance has no bearing on what that dollar is actually worth.  Whether 100,000 merchants accept the dollar or 10,000,000 merchants accept the dollar, that dollar is worth the same.

Ultimately, of course, the price of a Bitcoin is perception.  It will be those events that will mold that perception and affect the price accordingly.

[Kaligulax]

The price of bitcoin could increase to as much as $98,500, according to analysts at financial services and investment firm Wedbush Securities.

A report from analysts Gil Luria and Aron Turner, which has been referenced on StreetInsider.com, takes an extremely positive view of bitcoin, suggesting digital currency has the potential to shake up the current payments space.