[2014-01-02] CoinDesk : 56% of Bitcoiners Believe Bitcoin Will Reach $10000

[bryant.coleman]

Finally..... we have the results!

I am a bit disappointed though. I was expecting somewhere in the vicinity of 80%. 

http://www.coindesk.com/56-of-bitcoiners-believe-bitcoin-will-reach-10000-in-2014/

More than half of bitcoiners believe the price of their favourite digital currency will reach $10,000 this year, a CoinDesk poll has revealed. 2013 was a turbulent year for bitcoin, with the price of the digital currency fluctuating between $13 and $1,147, but the bitcoin community largely thinks it will soar way higher than this over the next 12 months.

[BitChick]

I would guess that only 50% or so thought BTC would even get to $1000 a year ago.

I think 56% is pretty good.

I voted YES!  I think a 10x increase in BTC is very likely next year.

I even think it might reach $100,000 but I am not trying to think about that right now.  It just seems too hard to believe, but I guess $1000 was too.

[cr1776]

I would guess that only 50% or so thought BTC would even get to $1000 a year ago.

I think 56% is pretty good.

I voted YES!  I think a 10x increase in BTC is very likely next year.

I even think it might reach $100,000 but I am not trying to think about that right now.  It just seems too hard to believe, but I guess $1000 was too.

There was a pool in Jan 2013 or Dec 2012 that asked that and it was a low percent - I couldn't find the thread off the top of my head.  :-)

This one in July 2013 (https://bitcointalk.org/index.php?topic=264170.0)  even only had 21% saying it would be above $310!

This one from Jan 2012 (https://bitcointalk.org/index.php?topic=56562.0) had about 48% saying the price would be $47 before the end of 2013 (24% saying before the end of 2012, 24% before the end of 2013)!

So this poll is actually quite high!  BitChick - I hope you are correct.  If Fortress, and even a tenth of all the other projects and investors getting involved do so, 2014 will be a banner year!

:-)

[TraderTimm]

Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".

[n8rwJeTt8TrrLKPa55eU]

Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".

Yes...it would be more interesting (insightful) to see a poll of either the population at large or random retail investors.

[BitChick]

Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".

If last year even less people voted that BTC would get to $1000 then I would say that most people would not be so bullish unless there was great reasons for BTC to get to that price.

I think this year there is even more reasons to believe in growth then even a year ago. 

[kibblesnbits]

$770 -->$10,000 (12.98x)
looks small compared to
$18 --> $770 (42.77x)

But, I'd be surprised/shocked if it goes past $3,000 this year.

(770 x 42.77 = $32,932) 
Let's hope for a 2013 replay!

[Stunna]

Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".

If last year even less people voted that BTC would get to $1000 then I would say that most people would not be so bullish unless there was great reasons for BTC to get to that price.

I think this year there is even more reasons to believe in growth then even a year ago. 

This is so true! Last year my prediction was in the range of a few $100 at years end. At some point I even thought coins would stabilize around $40-100. This is going to be bitcoin's greatest year thus far without a doubt.

[exstasie]

....I would've thought this poll would have been a lot higher consider you are asking people who are currently invested in Bitcoins.
I didn't respond to this surey, but I agree with the majority lol.

[laowai80]

From a contrarian point of view, majority seldom or never gets it right.

[marcus_of_augustus]

From a contrarian point of view, majority seldom or never gets it right.

This is so true ... so we have two options, bitcoin is going to end up about where it is or lower ... or it will go much higher than majority is thinking, so $20-50k seems like a good outside contrarian bet?

[kjlimo]

Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".

This is the year of the slide back to $100.


I see this as very possible.  Especially once all of the great bitcoin tools realizehow easy it is to put litecoin & ppc into use.

My question is what should the market cap of all cryptocurencies be?

I'm totally pro bitcoin, but I'm shocked by current prices & don't know whether $10k per btc is good or bad for 2014.

I'm thinking probably good, but Idont believe the answer is a slam dunk.

[kjlimo]

Not really surprising, I mean - they are asking people who are personally vested in Bitcoin if it will do well. I think it will be just fine of course, but I had to comment on the sillyness of this poll. Sure they're going to say higher, hardly anyone ever says "This is the year of the slide back to $100".

This is the year of the slide back to $100.


I see this as very possible.  Especially once all of the great bitcoin tools realizehow easy it is to put litecoin & ppc into use.

My question is what should the market cap of all cryptocurencies be?

I'm totally pro bitcoin, but I'm shocked by current prices & don't know whether $10k per btc is good or bad for 2014.

I'm thinking probably good, but Idont believe the answer is a slam dunk.

Put another way: why do I need bitcoin  to be $10k each for it to be useful

Or how is bitcoin adopted more when its value is higher?

[oakpacific]

I don't know, but I would say even if Bitcoin really gets to $10000, at least 56% of the people out there will still believe it's a scam and it will crash to zero because it has no "intrinsic value".

[BitChick]

I don't know, but I would say even if Bitcoin really gets to $10000, at least 56% of the people out there will still believe it's a scam and it will crash to zero because it has no "intrinsic value".

Soon the value will show itself.  Once large corporations start saving thousands of dollars, as well as time, sending business payments Internationally the intrinsic value for that one thing will sustain Bitcoin.

I just read another article today which shows the intrinsic value for "digitizing trust" as it was put.  http://www.coindesk.com/wall-street-analysts-bitcoin-revolutionise-non-financial-world

The value of BTC is beyond what we can even see right now.  Sure we are in a mostly speculative state, but it is an "educated" speculation.  Most of us have valid reasons for investing as much as we have into it because we see beyond the price that it is right now and realize that there is huge potential in this.  

That said, the price will remain volatile for some time but I think "zero" is a bit exaggerated.

[marcus_of_augustus]

That said, the price will remain volatile for some time but I think "zero" is a bit exaggerated.

... most definitely it will end in a zero .... just how many zeros is the question !

[oakpacific]

I don't know, but I would say even if Bitcoin really gets to $10000, at least 56% of the people out there will still believe it's a scam and it will crash to zero because it has no "intrinsic value".

Soon the value will show itself.  Once large corporations start saving thousands of dollars, as well as time, sending business payments Internationally the intrinsic value for that one thing will sustain Bitcoin.

I just read another article today which shows the intrinsic value for "digitizing trust" as it was put.  http://www.coindesk.com/wall-street-analysts-bitcoin-revolutionise-non-financial-world

The value of BTC is beyond what we can even see right now.  Sure we are in a mostly speculative state, but it is an "educated" speculation.  Most of us have valid reasons for investing as much as we have into it because we see beyond the price that it is right now and realize that there is huge potential in this.  

That said, the price will remain volatile for some time but I think "zero" is a bit exaggerated.

You misunderstood me.

[Lethn]

Whenever they release these bullshit polls always check the amount of people that actually took part, often they'll either keep the real numbers behind the polls hidden or it will be a very low number that actually took part and they've gone and targeted a specific group of people that will give them the answers the journalist in question wants rather than actually doing any kind of proper research.

[laowai80]

From a contrarian point of view, majority seldom or never gets it right.

This is so true ... so we have two options, bitcoin is going to end up about where it is or lower ... or it will go much higher than majority is thinking, so $20-50k seems like a good outside contrarian bet?

Not really, a third and, in my opinion, a more probable option is the price will go up, but not reach $10k, could reach $3-5k too, that's not bad either. The reason for that is, people will be more diversifying into alt-coins, and the capital flow into bitcoin will not be as fast.

[erono]

I think Bitcoin Will Reach $2000 this year and would stabilize around $1400-1600.