LiberyOrDeath (OP)
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September 04, 2014, 03:29:34 AM |
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Even though we still have a few months to go until the end of 2014, chances are that this year might turn out to be the worst for BTC. By this I mean the first year so far that BTC will end up in negative territory, 2011, 2012, 2013 all ended with huge upward movements, yet this year we have fallen from January high of $900-$1000 to what we have know $475.
What does this signal in your opinion? This year has seen many breakthroughs and positive news, yet we are down more than 50% this year - unprecedented event in the history of BTC, since all the previous years ended with high gains. Does this mean that 2015 will be a huge year or is it just a small detour along the way?
What do you cryptoheads think about this phenomenon ?
Cheers, Jay
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keithers
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September 04, 2014, 03:46:04 AM |
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It could very well turn out to be the worst in terms of price per BTC, but it is still one of the best in the development of all the possibilities that bitcoin brings to the table. All the advances will still lead to long term gains, i am very confident.
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DannyHamilton
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September 04, 2014, 03:49:29 AM |
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Even though we still have a few months to go until the end of 2014, chances are that this year might turn out to be the worst for BTC. By this I mean the first year so far that BTC will end up in negative territory, 2011, 2012, 2013 all ended with huge upward movements, yet this year we have fallen from January high of $900-$1000 to what we have know $475.
What does this signal in your opinion? This year has seen many breakthroughs and positive news, yet we are down more than 50% this year - unprecedented event in the history of BTC, since all the previous years ended with high gains. Does this mean that 2015 will be a huge year or is it just a small detour along the way?
What do you cryptoheads think about this phenomenon ?
Cheers, Jay
September 4, 2013 1 BTC = $123 September 4, 2014 1 BTC = $475 That's an increase of $352 (286%) over 1 year. It'll be interesting to see what happens in the remaining 4 months.
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jaberwock
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September 04, 2014, 04:06:47 AM |
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Still 118 days until the end of the year. Enough for a newbie signed up today becomes a member, for example. Many things can happen. The last rally from 200's - 100's took less than 118 days, for example.
Let the battle ends to call it a loss.
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TrailingComet
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September 04, 2014, 04:24:32 AM |
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In terms of price action alone, yes But I think 2014 has been a momentous year in terms of mainstreaming btc and most importantly highlighting the limitless possibilities of blockchain technology
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Beliathon
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September 04, 2014, 04:31:46 AM |
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Nation state fiat scrip has no true value, it's deteriorating funny-money - a depreciating asset in a depreciating world. The fiat exchange price merely indicates the collective piss-poor pattern recognition skills of humanity, and their lack of respect for mathematics.
Seriously though, look around you. People are stupid, stunningly stupid and obedient. How do you think the world got to be in such a sorry state?
Anyway, just give it time. The wise future-human holds and waits for the game to play itself out in the way the laws of the universe dictate it must.
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hikedoon
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September 04, 2014, 04:50:55 AM |
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This has been a great year for BTC. imo. If the price had stayed at around $1000 then I wouldn't have bought any.
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promojo
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September 04, 2014, 04:53:38 AM |
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What ever happened with "once we get retailer adoption = to the moon". We have global online company's offering it as payment but no moon shot. Is that because of miners/hoarders or because merchants are directly cashing out to fiat?
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raveldoni
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September 04, 2014, 05:38:21 AM |
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BTC price has not been upto the expectations this year but that doesn't mean it's worst. These are the buying times and as per predictions I still hope price will be rise up to 800 by the end of this year.
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LiberyOrDeath (OP)
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September 04, 2014, 05:40:02 AM |
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What ever happened with "once we get retailer adoption = to the moon". We have global online company's offering it as payment but no moon shot. Is that because of miners/hoarders or because merchants are directly cashing out to fiat?
Probably both. Anyway, I believe that many cryptoheads expect to see the same scenario from 2013, a huge rise at the end of the year , October, November and into December. The thing is BTC price has so far followed no patterns and while everybody and their brother are expecting to see prices triple up before Christmas, that just might not happen. The again who knows, it's a coin toss anyway. However I believe that from 2016 on we will see important price movements, but until then this year and possibly 2015 the price will prick around 400-700 USD. Just my 2 satoshis, Jay
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SherdonIke
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September 04, 2014, 05:46:51 AM |
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Thoughout the last 2 years we've been witnessing the groth of Bitcoin's popularity. Now it is all over the place, maybe this is the reason? Anyhow, 2014 is still not over. Maybe smth wil change.
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haploid23
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September 04, 2014, 05:50:06 AM |
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Worst year is not really saying much. Crypto currency hasn't only been around for a few years. Just because the end of last year had a huge spike, doesn't predict that it will happen again around the same time. Personally, I don't think we'll see that much of an epic rise again. For the same effect, btc price will have to rise to at least the $4k range from current levels for it to be comparable to last year. I don't see that happening any time in the next few years.
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medicine
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September 04, 2014, 07:02:54 AM |
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2014 was dubbed year of multisig, however I still haven't found a reliable multisig app or software wallet. I believe 2014 has been the year an industry was born. I think Andeas made a comment regarding this a month or 2 ago in one of his talks. Development this year in the crypto industry is unprecedented. We went from having some professionals participating here and there in this wild west environment to the environment itself becoming professional. I argue this is the best year for bitcoin and we should expect all this work to payoff soon in the price.
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Kprawn
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September 04, 2014, 07:10:32 AM |
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I am not worried at all.... Only reason for this, was big merchants coming in {Lots of new things to buy}, and hoarder spending coins. Then you have a "floading" or over supply of coins on exchange, pushing the price down. As soon as the demand for BTC increase, when the hoarders stop spending and the "over supply" are reduced, the market will correct it self, and the price will skyrocket again. To speed up this process, all of us, must help, even the merchants, to get more people to adopt the currency, to stimulate demand. As soon as there is a bigger demand for the coins, than there is a supply of it.. you will not believe, how the price will go up. So start, getting more people to adopt the currency, and see what happens. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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H.W.Z
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September 04, 2014, 07:56:47 AM |
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I dont think the measurement of bad or good is depending the price movements. It is for speculators who are sensitive to the price level. I think 2014 is good year. Many big companies are accepting BTC payment. More people get to know what is BTC.
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cambda
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September 04, 2014, 08:19:12 AM |
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If I look at adoption and development, I say 2014 is best year for Bitcoin so far. The last year price from sept 4 is increase, but I do not expect the price to rise to over 1k this year, so we will see probably longest price drop so far, but it mean very little to me comparing obvious Bitcoin success so far
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ObscureBean
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September 04, 2014, 08:52:18 AM |
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I don't think there is anything to worry about here. This drop in price is probably even healthy for the Bitcoin ecosystem. Not all of early adopters are hoarders, a lot of people have probably been cashing out, especially after the Gox scare. Imagine a college kid who accumulated 50 BTC worth nothing in 2010 see the price of 1 BTC go up to $1000 in 2013. That's okay though because these guys are helping in redistributing the coins and further increase the reach of BTC. This downward trend will likely not last for very long, I believe we will see a trend reversal before the end of 2015.
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zedicus
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September 04, 2014, 09:08:12 AM |
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Price wise it is looking grim (although we still have 4 months left) but the amount of VC funding and development has been incredible. I won't make judgement until we are closer to years end. It has only been a bad year for those who bought on the high. I always stop buying once a rally begins.
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nwfella
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Well hello there!
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September 04, 2014, 09:08:45 AM |
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What ever happened with "once we get retailer adoption = to the moon". We have global online company's offering it as payment but no moon shot. Is that because of miners/hoarders or because merchants are directly cashing out to fiat?
The majority of retailers starting to accept bitcoin are only doing so with the intention of immediately cashing out to fiat. This inevitably has a downward pressure effect on the price of bitcoin.
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¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿
Gimme the crypto!!
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kutaka
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September 04, 2014, 09:39:36 AM |
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2014: The Worst Year for BTC Price? Fixed that for you.
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