Your thoughts on when BTC will reach $1000 again?

[T.Stuart]

Soon would be my best guess.

By January or February latest.

I can't see that happening at the current rate. If we have some interest from some other countries then maybe.

If last week's "modest" growth was to continue, just for the sake of example, we would be well over $1000 by the end of January. Considering last week was holiday period and January is often bullish generally and bullish in Bitcoin (more so perhaps today than ever before), there is certainly a significant chance of this happening.

Also remember that the last major growth spurts were not stimulated by other countries. There is still huge growth potential in the US alone!

[Dalmar]

The recent spike was due to the enormous interest from the Chinese investors. They have mostly offloaded their stake. So now we have to wait for another spike from some other nation... may be India, may be Indonesia, or may even be some Latin American nation.

India seems dead for now.. and most Latin American countries don't have much money, small European countries like Holland have a larger GDP than places like Argentina and Venezuela.

[Dr Bloggood]

Soon would be my best guess.

By January or February latest.

I can't see that happening at the current rate. If we have some interest from some other countries then maybe.

If last week's "modest" growth was to continue, just for the sake of example, we would be well over $1000 by the end of January. Considering last week was holiday period and January is often bullish generally and bullish in Bitcoin (more so perhaps today than ever before), there is certainly a significant chance of this happening.

Also remember that the last major growth spurts were not stimulated by other countries. There is still huge growth potential in the US alone!

Yes, this is kind of how I see it too - plus, look at the charts! It really seems like 480 was the low.

Then again, really bad news could prevent this, just as really good news will propel us A LOT higher than just 1000$.

[Wilhelm]

Certainly by april since this has been a major growth month in previous years.

[T.Stuart]

Soon would be my best guess.

By January or February latest.

I can't see that happening at the current rate. If we have some interest from some other countries then maybe.

If last week's "modest" growth was to continue, just for the sake of example, we would be well over $1000 by the end of January. Considering last week was holiday period and January is often bullish generally and bullish in Bitcoin (more so perhaps today than ever before), there is certainly a significant chance of this happening.

Also remember that the last major growth spurts were not stimulated by other countries. There is still huge growth potential in the US alone!

Yes, this is kind of how I see it too - plus, look at the charts! It really seems like 480 was the low.

Then again, really bad news could prevent this, just as really good news will propel us A LOT higher than just 1000$.

Just like a lot of others on this forum, I thought there would be one more leg down to somewhere around $300, 10 days or so after the $455 bottom. Then I remembered that 5 or 6 weeks ago I was trying already to work out the low after the bubble by looking at previous charts, not an exact science I know but nevertheless I calculated $450. Of course when the time came I didn't buy in at that price! Now I can see that I should have just stuck with my guns and not been swayed by day to day hype.

In short I've come to terms with the fact that, unless there is some very major bad news or highly unexpected and inept gigantic whale trade, we will not be seeing $450 or anything close again, and in my opinion we might waver a bit for a few more hours but we are not straying too far from the current price of $750, unless it is in an upwards direction. The line will continue steadily up through next week and beyond, getting steeper in early January.

[Dr Bloggood]

Soon would be my best guess.

By January or February latest.

I can't see that happening at the current rate. If we have some interest from some other countries then maybe.

If last week's "modest" growth was to continue, just for the sake of example, we would be well over $1000 by the end of January. Considering last week was holiday period and January is often bullish generally and bullish in Bitcoin (more so perhaps today than ever before), there is certainly a significant chance of this happening.

Also remember that the last major growth spurts were not stimulated by other countries. There is still huge growth potential in the US alone!

Yes, this is kind of how I see it too - plus, look at the charts! It really seems like 480 was the low.

Then again, really bad news could prevent this, just as really good news will propel us A LOT higher than just 1000$.

Just like a lot of others on this forum, I thought there would be one more leg down to somewhere around $300, 10 days or so after the $455 bottom. Then I remembered that 5 or 6 weeks ago I was trying already to work out the low after the bubble by looking at previous charts, not an exact science I know but nevertheless I calculated $450. Of course when the time came I didn't buy in at that price! Now I can see that I should have just stuck with my guns and not been swayed by day to day hype.

In short I've come to terms with the fact that, unless there is some very major bad news or highly unexpected and inept gigantic whale trade, we will not be seeing $450 or anything close again, and in my opinion we might waver a bit for a few more hours but we are not straying too far from the current price of $750, unless it is in an upwards direction. The line will continue steadily up through next week and beyond, getting steeper in early January.

Well said, I agree!

You can't say how much it could stray downwards again, but I would say that we have seen the bottom (except for horrible news). What you saw there was exactly how a bottom plays out - a last short, deep downwards spike and then the price shooting up.

I bought most of my BTCs on that lowest day, and I'm pretty happy with that (couldn't buy all of them that day, because I buy in chunks, can't break my rules). Now waiting to invest my last 20%.

[T.Stuart]

I bought most of my BTCs on that lowest day

Congratulations!

[dc0ded]

It won't be wise to invest in bitcoin to double or triple your money. Its highly volatile till now and word governments are still suspecting it.

[T.Stuart]

...word governments...

What you need

[empoweoqwj]

The recent spike was due to the enormous interest from the Chinese investors. They have mostly offloaded their stake. So now we have to wait for another spike from some other nation... may be India, may be Indonesia, or may even be some Latin American nation.

India? Just got shut down by the  goverment.
Indonesia? Too small an economy.

US and Europe, South Korea maybe.

[T.Stuart]

The recent spike was due to the enormous interest from the Chinese investors. They have mostly offloaded their stake. So now we have to wait for another spike from some other nation... may be India, may be Indonesia, or may even be some Latin American nation.

India? Just got shut down by the  goverment.
Indonesia? Too small an economy.

US and Europe, South Korea maybe.

Don't need a spike from a country. It really is not necessary to look at it in terms of "injections" of interest - steady adoption in America alone (not that it will be just America alone) would mean many months to several years more growth.

[empoweoqwj]

The recent spike was due to the enormous interest from the Chinese investors. They have mostly offloaded their stake. So now we have to wait for another spike from some other nation... may be India, may be Indonesia, or may even be some Latin American nation.

India? Just got shut down by the  goverment.
Indonesia? Too small an economy.

US and Europe, South Korea maybe.

Don't need a spike from a country. It really is not necessary to look at it in terms of "injections" of interest - steady adoption in America alone (not that it will be just America alone) would mean many months to several years more growth.

Agreed. Organic growth round the world, is enough. Look at this site for metrics:

http://www.bitcoinpulse.com/

And people like coinbase  doing a POS app for retailers: http://t.co/BJM7ss8sMi

Plus widespread placement of bitcoin ATM machines will help enormously.

[Notanon]

Better, more foolproof means for POS transactions will help (i.e. the use of a real-time exchange to lock in a price rate, something akin to Paypass and so on).

[medUSA]

It seems to stablise around $600-$800, we could see more fluctuations within this band for the weeks to come. I am sure bitcoins is one of the more popular topics at dinner tables over the holidays, there will be a lot of new comers in the market soon, it would be difficult for bitcoins to drop back down to $200 level.

My guess is we will head back down and touch $450 level again for a few hours and come back to $600. It may touch $1000 again in mid 2014, but it wouldn't stay there for long. I believe it will take a few attempts at the $1000 mark for bitcoin to stay at that high level.

[Bitcoin Machine]

I want to hear your thoughts on when btc will reach 1000 bucks again, feel free to share.

Here is a chart I made on December 17th. Before BTC fell below 500 the following day.

According to my observations it could be anywhere between mid January and June 2014.  Unless we hit another bull market, then it could take only a couple days. If that happens we maybe headed back to the moon. 

[flynn]

You may want to draw your chart again using a log scale

There is not much sense to compare a $10 increase appearing 2012 with a $10 increase during 2014, and that's what you're doing by drawing these lines on a linear scale. Seems to me that it has more signification to compare a N% increase in 2012 with a N% increase in 2014, ...

[Bitcoin Machine]

You may want to draw your chart again using a log scale

There is not much sense to compare a $10 increase appearing 2012 with a $10 increase during 2014, and that's what you're doing by drawing these lines on a linear scale. Seems to me that it has more signification to compare a N% increase in 2012 with a N% increase in 2014, ...

A log scale sounds good. But I am not sure what you're saying.  The chart shows only activity in 2013. Where do you see 2012?  I don't know what you mean by a $10 increase.

I am only observing angles and looking for patterns.

From mid march 2013 to April 10th you see a spike from $35 - $230. And then it corrected itself back to $65. This is important to understand since this type of activity always repeats itself. In which it did.  We can see similar pattern between November and December but much more radical.

This chart projects a conservative increase in value over time compared with sharp spikes of the past.  It helps me understand what happens when the market spikes and how a good bull market can go into insanity very quickly.  

All I am trying to point out is that investing long term is the answer.  If you day trade then this chart may not help as much except as a warning to people investing at the top of a spike.

But right now seems to be a good time to buy. Especially long term.  But I think many people are waiting to see what happens after the Chinese new year (Jan 31st). After this date we may see some interesting activity.

[segeln]

You may want to draw your chart again using a log scale
There is not much sense to compare a $10 increase appearing 2012 with a $10 increase during 2014, and that's what you're doing by drawing these lines on a linear scale. Seems to me that it has more signification to compare a N% increase in 2012 with a N% increase in 2014, ...

A log scale sounds good. But I am not sure what you're saying.  The chart shows only activity in 2013. Where do you see 2012?  I don't know what you mean by a $10 increase.

Consider,we are approaching 2014 and will compare prices in 2013 with Prices in 2014 so a log scale is more valuable
BTW :I appreciate your chart- drawings

[flynn]

@Bitcoin-machines
I was just drawing a few examples to make my point, by comparing a fixed-in-$ price raise end-2012 with the same raise end-2013. I assumed you needed arguments to accept going to log scale, but obviously you don't

[Bitcoin Machine]

You may want to draw your chart again using a log scale
There is not much sense to compare a $10 increase appearing 2012 with a $10 increase during 2014, and that's what you're doing by drawing these lines on a linear scale. Seems to me that it has more signification to compare a N% increase in 2012 with a N% increase in 2014, ...

A log scale sounds good. But I am not sure what you're saying.  The chart shows only activity in 2013. Where do you see 2012?  I don't know what you mean by a $10 increase.

Consider,we are approaching 2014 and will compare prices in 2013 with Prices in 2014 so a log scale is more valuable
BTW :I appreciate your chart- drawings

Thanks.. I was simply looking at angles and saw a pattern.

I should play with the design an incorporate some useful & comparable numbers.