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February 03, 2014, 08:53:14 PM |
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Big changes in context will naturally affect the price. If ZipZap starts offering access to UK market, that could be very encouraging; if New York regulators rules in a couple of months, then that will have the biggest positive effect - expecting they are savvy enough to understand the opportunity and not stifle it. If the Russians do go after BTC-e and that isn't just trolling trolls, then that might have a negative effect as they have become larger than perhaps is warranted, given the lack of KYC there. I'd guess then in a month +/- $100 and +/- $300 in two months. What we need is some clear sense from regulators to let Bitcoin exchanges setup professional operations and that allow merchants to get into Bitcoin without worrying about the legal complexities and uncertainties. If there are more merchants getting in than there are new ways to buy Bitcoin, then it's to be expected those merchants to start will sell out what they receive into fiat, so that might drop the price; visa vera would raise the price.
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