why is it not going to $40000

[tinus42]

It is going to $40,000. Just not today or tomorrow. Maybe next year.

I'm not sure if I want that to happen. The Winklevii will be so sickenly rich billionaires then, they will become even more obnoxious than they are now.

[guybrushthreepwood]

For 1BTC to be 40k USD, something groundbreaking must happen and before that there will be lot of road blocks that need to be cleared. It's possible but game will be getting harder when price climbs up from certain point.

For the price to rise to 40k USD would only require about 40x price increase, we saw a bigger price increase than that in 2013, so seeing this price in the next year or two is not beyond the realm of possibilities. The price might also drop back down to 10, who knows what will happen?

How much did it rise in 2013?

Went from 15 at the beginning of the year to 1000 near the end of the year, that is 67x. If you go by the beginning and end of the year, depending on which exchange you look at, it might be something like 15 to 850, which is 56x. Either way, that is more than the 40x increase we would need to get from 1k to 40k.

Interesting. I wonder what are the chances of it rising like that this year?

[hilariousandco]

For 1BTC to be 40k USD, something groundbreaking must happen and before that there will be lot of road blocks that need to be cleared. It's possible but game will be getting harder when price climbs up from certain point.

For the price to rise to 40k USD would only require about 40x price increase, we saw a bigger price increase than that in 2013, so seeing this price in the next year or two is not beyond the realm of possibilities. The price might also drop back down to 10, who knows what will happen?

How much did it rise in 2013?

Went from 15 at the beginning of the year to 1000 near the end of the year, that is 67x. If you go by the beginning and end of the year, depending on which exchange you look at, it might be something like 15 to 850, which is 56x. Either way, that is more than the 40x increase we would need to get from 1k to 40k.

Interesting. I wonder what are the chances of it rising like that this year?

Not very likely I'd say, though several thousands is not unreasonable. A lot of people seem to be investing using the logic that the price will continue to rise like this, but it doesn't work like that.

[iLiekPai]

The price rose due to the American government approving the BTC, then collapsed when the Chinese denounced it. It might rise upon meeting a positive response from another "strong" country (economical aspect) or the European union, but until then I highly doubt that the price will rise more than 1100-1200USD. 

[guybrushthreepwood]

The price rose due to the American government approving the BTC, then collapsed when the Chinese denounced it. It might rise upon meeting a positive response from another "strong" country (economical aspect) or the European union, but until then I highly doubt that the price will rise more than 1100-1200USD. 

Really? It was over 1000 recently. I can see it creeping up back to its peak.