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[noob2001]

.

[btc_dev]

Been looking at the yearly bitcoin log chart.......

It seems 1, 10, 100, and now 1000 were massive resistance and support areas. 

Back in Jan 2011 bitcoin hovered around 1, then exploded higher.

And it seems, Jan 2011 and Jan 2014 seem to be following a similar pattern.

Is it just a matter of time before the price explodes up to $10,000?

Is bitcoin really this predictable?

End of 2015, 1 BTC = 10k USD

[runam0k]

I expect the price of gold will be a sticking point. Once it breaks that (I know it did on Gox, briefly), who knows where it goes.

[Sutters Mill]

I think it's all speculation, but human behavior can be predicted. People find it very hard to be random and are most likely to act upon impulse, which is often governed by things like scarcity, reciprocity and grouping. I think, in that respect, certain things can be predicted, but people will also change their behaviors based on previous experiences. Look now at how much more resilient the BTC price is to news of companies accepting it as a currency.

[EasyD]

I feel like some people say Bitcoin will be $10k are the ones who WANT it be hit that level. Truth is, we dont know, we can only speculate.

Edit: I personally feel there will be a coin greater than Bitcoin in many ways and will become the primary crypto. I would share what coin I think that is but I'm currently mining it and dont want competition lol. Do your research!

[Meuh6879]

price increase because people want this ...
if people keep bitcoin in cold storage, the price decrease (because 25BTC is injected every 10min in the network).

only price bump will be if the "noob people" use instead of credit card (or paypal).

[FallingKnife]

It's the natural consequence of a limited issue currency. What did you expect?
If people adopt Bitcoin, then Bitcoin must cost more. There are only so many of them.

If nobody wants or uses Bitcoin, then it will go down in price. But if a billion people suddenly come into the market, its value and utility will increase rapidly.

What astounds so many of us is: a) that this is actually happening, or b) what took it so long to happen.

[Meuh6879]

reponse (b) for me ... it's take only 3 month to rise the price of BTC to 700 euros (real rock stable since december).
more 3x time waiting time to insert in the global merchandising (to adapt auto-cash at seller)

[Rygon]

To take another exponential increase in price, it would take another exponential increase in expectations that Bitcoin usage will expand. There's already a lot of things in 2014 factored in, such as the continued steady increase in semi-major websites acception BTC, and some level of acceptance in the US as a result of regulations.

IMO, if all these things happened this year, there would be a decent chance of reaching 10K.

1. Regulators put together rules that don't add significant challenges for banks and businesses to work with Bitcoin.
2. Amazon, paypal, or combination of Newegg/Ebay/Taoboa/Apple/etc accept payment in bitcoins
3. An amazing app that makes using Bitcoin and keeping it secure so ridiculously easy that most people wouldn't consider it to be much more difficult to use than a credit card. I still don't think there is a killer app.

[segeln]

To take another exponential increase in price, it would take another exponential increase in expectations that Bitcoin usage will expand. There's already a lot of things in 2014 factored in, such as the continued steady increase in semi-major websites acception BTC, and some level of acceptance in the US as a result of regulations.

IMO, if all these things happened this year, there would be a decent chance of reaching 10K.

1. Regulators put together rules that don't add significant challenges for banks and businesses to work with Bitcoin.
2. Amazon, paypal, or combination of Newegg/Ebay/Taoboa/Apple/etc accept payment in bitcoins
3. An amazing app that makes using Bitcoin and keeping it secure so ridiculously easy that most people wouldn't consider it to be much more difficult to use than a credit card. I still don't think there is a killer app.

I agree completely with those 3 points

[sgbett]

Been looking at the yearly bitcoin log chart.......

It seems 1, 10, 100, and now 1000 were massive resistance and support areas. 

Back in Jan 2011 bitcoin hovered around 1, then exploded higher.

And it seems, Jan 2011 and Jan 2014 seem to be following a similar pattern.

Is it just a matter of time before the price explodes up to $10,000?

Is bitcoin really this predictable?

Every part of me thinks "it can't be", but time after time I have been proven wrong.

[gentlemand]

If all three came true it would likely start a run up to five figures and beyond. There's still a lot of virality to go.

[Rygon]

To take another exponential increase in price, it would take another exponential increase in expectations that Bitcoin usage will expand. There's already a lot of things in 2014 factored in, such as the continued steady increase in semi-major websites acception BTC, and some level of acceptance in the US as a result of regulations.

IMO, if all these things happened this year, there would be a decent chance of reaching 10K.

1. Regulators put together rules that don't add significant challenges for banks and businesses to work with Bitcoin.
2. Amazon, paypal, or combination of Newegg/Ebay/Taoboa/Apple/etc accept payment in bitcoins
3. An amazing app that makes using Bitcoin and keeping it secure so ridiculously easy that most people wouldn't consider it to be much more difficult to use than a credit card. I still don't think there is a killer app.

Good post, but, I think if all 3 came true, bitcoin would be at least $100k a coin.

If only Amazon started accepting bitcoins, wouldn't that push bitcoins price to $10k?

I just don't see it. There still needs to be a clearer path for regulations before it can be traded easily.

Oh, and I forgot the fourth:

4. Winkelvoss ETF gets approved and starts trading. But that's mostly dependent on regulators right now.

[shark32]

I feel like some people say Bitcoin will be $10k are the ones who WANT it be hit that level. Truth is, we dont know, we can only speculate.

Thats propably right, but the logical implication is rather "Im convinced Bitcoin will hit 10k, let's buy" than "Im gonna buy some BTC... cool, now that I own some, wouldnt it be great if price explodes? I'll go for that"

[An amorous cow-herder]

Is bitcoin really this predictable?

No.

[coinpharmer]

the thing is, how many of the current holders would want to buy more pieces if coin if the price is 10000? i may work at getting to the next whole number but i dont know if i would want to buy past that. truly we need 1/10th a bitcoin named something, and 1/100 coin named something. then its easy for my greed to continue.

its going to be very interesting to see if as we break past 1k people start becoming ok with never owning a full coin. if THAT barrier is broken then i think many more people will buy. noone whats to be too close to the group of people who have lots of full coins while not having a full one themselves, but if i were in a group of people none of whom had a full coin, id be happy to just try and have more parts of a coin than most friends, or a equal amount

[Holliday]

Once it breaks that (I know it did on Gox, briefly), who knows where it goes.

It only touched, it did not break.

[gentlemand]

the thing is, how many of the current holders would want to buy more pieces if coin if the price is 10000? i may work at getting to the next whole number but i dont know if i would want to buy past that. truly we need 1/10th a bitcoin named something, and 1/100 coin named something. then its easy for my greed to continue.

its going to be very interesting to see if as we break past 1k people start becoming ok with never owning a full coin. if THAT barrier is broken then i think many more people will buy. noone whats to be too close to the group of people who have lots of full coins while not having a full one themselves, but if i were in a group of people none of whom had a full coin, id be happy to just try and have more parts of a coin than most friends, or a equal amount

Yup. Anyone who thinks people want to deal with lines of zero point whatever to infinity spends too much time up to their eyes in code. That's not how the rest of the human race operates.

[flagel8]

I feel like some people say Bitcoin will be $10k are the ones who WANT it be hit that level. Truth is, we dont know, we can only speculate.

Edit: I personally feel there will be a coin greater than Bitcoin in many ways and will become the primary crypto. I would share what coin I think that is but I'm currently mining it and dont want competition lol. Do your research!

so mystery, very coin?