When will BTC hit $1000 again?

[hellscabane]

I say that it'll hit that height again in August of this year (just the first stopping point in the next rally). There's likely going to be some very high-impacting incidents over the next few months that I personally think is going to cause another sharp rise.

[Cluster2k]

There seem to be many threads recently along the lines of 'when will we see $1k again?', probably posted by people who bought around the $1k mark and are currently sitting on losses.

My advice is: sit tight.

The current market is excellent for bitcoin.  I hope we sit around the $450 mark for months, if not a year or two.  Why?  Because we don't want the world to view bitcoin as a get-rich-quick, tulip mania con.  If the price rockets up like it did in 2013 that's good for people who bought in early, but it does no end of harm for bitcoin's ultimate goal of being a currency that can be used in the real world for everyday transactions.

Imagine a store that would have to change its pricing almost daily as bitcoin has risen or fallen 5, 10, or even 20% in a day.  That's not a viable currency.  I know inevitably someone chimes in with the argument of 'but just use an exchange to instantly convert the bitcoins to dollars, thus removing the bitcoin price volatility'.  This of course glosses over the middleman risk (exchange going bust) and the extra fees involved (currency conversions and services aren't free).

[Ibian]

Bull. The price will have to go up along with adoption. We have many, many days of tulip-accusations ahead. The "stable currency" that some people dream of won't happen until north of 100k. Until then it's a traders and investors game.

[devphp]

My advice is: sit tight.

Be right and sit tight.

The first part of the two is easy.

[Malin Keshar]

1 - bitcoin cannot be arbitrary created, so more demand = rise in price. This will be inevitable, if you want more people in the game, you can't expect a stable price.

2 - bitcoin is not only a currency, but also a way of money, like gold or silver, in some sense. The price must goes up more than inflation so the money saving people can enter the game and buy bitcoin, instead of gold or silver or stuff like that

3 - even with high fluctuation in price, btc makes some transactions that were hard or impossible to happen viable, like transfers around the globe of relatively smalls amounts of money between people without credit cards, so that can't use paypal.

4 - about markets: one could develop a open source API that auto-change prices according to bitcoin price. Or the bitcoin amount to be deposited would be selected only after the sell, so you only would do the calculation after the buy. Or maybe even by intra-exchange transfer.   

[kwukduck]

Maybe you learned a lesson? Get out while you still can, we will go down HARD very soon as the governments come cracking down on btc.

[hellscabane]

Maybe you learned a lesson? Get out while you still can, we will go down HARD very soon as the governments come cracking down on btc.

I don't necessarily see all governments cracking down on BTC. After all, with all of the various types of posturing and conflicting stances, it wouldn’t be too far-fetched for some countries embracing BTC. I mean if the U.S. cracked down on BTC, I’m sure that would make BTC more appealing for all of the political enemies of the U.S.

But yes, if the U.S. cracked down on BTC, I could easily see prices plummeting for a while.

[UglyTroll]

But yes, if the U.S. cracked down on BTC, I could easily see prices plummeting for a while.

I'm pretty sure not just "for a while" 

[Torque]

But yes, if the U.S. cracked down on BTC, I could easily see prices plummeting for a while.

I'm pretty sure not just "for a while"  

With regards to the future development of bitcoin, Andresen said that creating good forums for discussion was crucial, and joked that he really wanted someone “to solve the Internet troll problem.” - Bitcoin2014 Conference

I'm pretty sure he was talking about you UglyTroll (and kwukduck, and igorr, and cosmofly, and... and...)  

[jonald_fyookball]

enough talk of the US banning BTC.

All evidence points to the likelihood that they WILL NOT ban it,
so stop creating FUD.

[UglyTroll]

But yes, if the U.S. cracked down on BTC, I could easily see prices plummeting for a while.

I'm pretty sure not just "for a while" 

With regards to the future development of bitcoin, Andresen said that creating good forums for discussion was crucial, and joked that he really wanted someone “to solve the Internet troll problem.” - Bitcoin2014 Conference

I'm pretty sure he was talking about you UglyTroll (and kwukduck, and igorr, and cosmofly, and... and...)   

Thats A Big Honor 

[hellscabane]

But yes, if the U.S. cracked down on BTC, I could easily see prices plummeting for a while.

I'm pretty sure not just "for a while" 

I really see it being just "for a while." With all of the politics that are intertwined, there would easily be a slew of other countries that the slack would shift onto. It's all a matter of contrarian policy.

[serenitys]

I don't see the US banning it ever. As of now, though the media hacks are talking out their asses about bitcoin and doing the FUD thing, the government has taken mostly a neutral to receptive position, and raised their concerns about the black market.

In reality, there has been a black market since the dawn of controlled currency.

The government also knows the usd and economic fate is on shaky ground so they can openly talk tough but they can't reasonably start in with the strong arm tactics because it'll rapidly spin out of control.

It's standing aside keeping an eye on it so as long as the bitcoin community plays nice and lets the innovators come out with all their nifty apps that make bitcoin a mainstream adoption and the government will look for ways to capitalize on it. By then, though, it's pretty much too late. Any restrictions people don't like will motivate them to use bitcoin more than usd which in large enough numbers begins to devalue usd...and then other countries see the usd slipping and SHTF with a spark.

China's already communist so it's par for the course for them to have a hissy fit and shriek and implement controls. US government won't get away with it without literally sparking a violent revolution in the streets. Not everyone is a candy ass letting government tell them how to think.

Governments worldwide are being forced to take a stand because bitcoin is already disrupting the status quo. It's just going to get bigger.

The fun part is that bitcoin currently isn't a huge threat so they can't outright ban it without looking paranoid on top of giving it more credibility and by the time bitcoin IS a visible, in your face threat, it'll be too late because the infrastructure will be in place, mainstream adoption in place and all people need is a reason...

[Crindon]

Just gotta hang tight. I would love to see $1000 coins again, but it may not be that soon. It may be another 6 months. But once the ETF's start to hit Wall Street, look out. Things will change really fast as that is newsworthy information.

[JimboToronto]

2015

sounds bullish 

Exactly.

It reminds me of just last summer when some people were actually posting that it wouldn't reach triple digits again in 2013, or of late 2011 when they prematurely declared the death of Bitcoin. We all know how that turned out.

The TA/day-trading cultists are living in such a pitiful dreamworld of delusion that they sometimes lose sight of the bigger picture.

Oh, I forgot. This time it's supposed to be different.

 

[arbitrage001]

Highly doubtful that it will hit over $1000 again.

There are many competitive coins out there waiting to prove themselves also.

[ranlo]

Highly doubtful that it will hit over $1000 again.

There are many competitive coins out there waiting to prove themselves also.

It will almost definitely hit $1k, if for no other reason than people who bought in massive amounts last year pumping it so they can exit without major losses.

[pummle]

The price jumped up about 10% today, it could be back over $1000 by the end of the week.

[ranlo]

The price jumped up about 10% today, it could be back over $1000 by the end of the week.

That's a far stretch right now. It would take a lot of money to get there, and it would hit major resistance by people that are trying to break even on their buys at the 800+ mark. The only way this would happen is if a major investor was buying up all the coins without caring what the price is.

[pummle]

The price jumped up about 10% today, it could be back over $1000 by the end of the week.

That's a far stretch right now. It would take a lot of money to get there, and it would hit major resistance by people that are trying to break even on their buys at the 800+ mark. The only way this would happen is if a major investor was buying up all the coins without caring what the price is.

Or, it could be a bunch of people realizing that we have passed the bottom, and they want to get back in before the price leaves them behind. Large holders could see the price rising and move their asks upward or remove them completely. The bitcoin market is still so small just a little push can start it moving in big jumps.