When will Bitcoin take off again?

[bitcoinbelieve]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

If there is lack of demand for the product, it doesn't matter whether it's being halved

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[bitbinn]

Im sure alot can happen before this scenario happens but ive always felt for Bitcoin to take off like it did last year something big has to happen, what if another stock market crash happens and banks start failing again, people will be searching for a way to protect there money by pulling it outta banks and outta stocks to prevent big losses they sustained back in 2008, and put it into bitcoin, I could be way off but ive had this feeling for a long time though, does anything think im way off base or have some merit here?

The market is oversaturated with bitcoin thanks to the vendors (newegg, dish, overstock, etc...) where they immediately convert bitcoin into fiat. This creates more seller than buyer thus causing the demand for bitcoin to decline. It is good thing that bitcoin is being accepted by various of vendors but at the same time, it could be worse thing happened to bitcoin. It's catch 20/20.

this is true but still if more places accept bitcoins more people will use bitcoins and buy them

[Zarathustra]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

If there is lack of demand for the product, it doesn't matter whether it's being halved

It does matter, anyway. It would reduce the lack of demand by 1800 coins per day.

[nuff]

It will take off around oct-dec though this time it'll be gradual not astronomical like in 2013. Buying as much as I can before it happens

[jaredboice]

Im sure alot can happen before this scenario happens but ive always felt for Bitcoin to take off like it did last year something big has to happen, what if another stock market crash happens and banks start failing again, people will be searching for a way to protect there money by pulling it outta banks and outta stocks to prevent big losses they sustained back in 2008, and put it into bitcoin, I could be way off but ive had this feeling for a long time though, does anything think im way off base or have some merit here?

The market is oversaturated with bitcoin thanks to the vendors (newegg, dish, overstock, etc...) where they immediately convert bitcoin into fiat. This creates more seller than buyer thus causing the demand for bitcoin to decline. It is good thing that bitcoin is being accepted by various of vendors but at the same time, it could be worse thing happened to bitcoin. It's catch 20/20.

Most users who are spending bitcoin believe in bitcoin (as your name seems to suggest). And in most situations, since these bitcoin believers generally believe that bitcoin is undervalued, they are going to replace any bitcoins that they use to purchase something.  So the selling pressure you just described is almost non-existent since it is typically a zero sum swap.

Vendors accepting bitcoin is only a good thing.  It is not a catch 22.  And most importantly the vendors selling bitcoin for fiat is likely only transitory in the grand scheme of things.  As bitcoin gains transaction and consumer/vendor use continues to increase, it will at a point become undesirable to exchange bitcoin for fiat.  If for no other reasons because of the astronomically low fees that fiat can't compete with

[ThatDGuy]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

If there is lack of demand for the product, it doesn't matter whether it's being halved

It does matter, anyway. It would reduce the lack of demand by 1800 coins per day.

Lack of supply by 1800 coins per day, I think you meant

[azguard]

NO take off this year.

Next perhaps but not sure agree on most here in 2016.
Except if something big happen then will price go up or down.

[rackcityb1]

It will take off around oct-dec though this time it'll be gradual not astronomical like in 2013. Buying as much as I can before it happens

bitcoin took off that time last year because it was made widely known that it was possible to buy illegal drugs on the darkweb using bitcoin (due to the arrest of Ross Ulbright aka DPR)

[Wary]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

If there is lack of demand for the product, it doesn't matter whether it's being halved

It does matter, anyway. It would reduce the lack of demand by 1800 coins per day.

Lack of supply by 1800 coins per day, I think you meant

Nope. What he (IMHO) means is that for BTC prices not falling we need daily demand of 3600 coins to neutralize daily supply of 3600 coins. So currently we have lack of demand 3600 coins, but after the halving the supply (and therefore the lack of demand) will be reduced by 1800 to 1800.

[picolo]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

If there is lack of demand for the product, it doesn't matter whether it's being halved

It does matter, anyway. It would reduce the lack of demand by 1800 coins per day.

Lack of supply by 1800 coins per day, I think you meant

Nope. What he (IMHO) means is that for BTC prices not falling we need daily demand of 3600 coins to neutralize daily supply of 3600 coins. So currently we have lack of demand 3600 coins, but after the halving the supply (and therefore the lack of demand) will be reduced by 1800 to 1800.

Yes let's say we have a new demand that is not big enough, the demand can grow and the demand is here because the price would crash if it wasn't
The next halving and the collapse of the USD will help get to crazy prices

[exocytosis]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

If there is lack of demand for the product, it doesn't matter whether it's being halved

It does matter, anyway. It would reduce the lack of demand by 1800 coins per day.

Lack of supply by 1800 coins per day, I think you meant

Nope. What he (IMHO) means is that for BTC prices not falling we need daily demand of 3600 coins to neutralize daily supply of 3600 coins. So currently we have lack of demand 3600 coins, but after the halving the supply (and therefore the lack of demand) will be reduced by 1800 to 1800.

Yes let's say we have a new demand that is not big enough, the demand can grow and the demand is here because the price would crash if it wasn't
The next halving and the collapse of the USD will help get to crazy prices

Next halving is priced in. Collapse of the USD is a delusional fantasy. Anyway: If the USD were to enter hyperinflation mode, a 10k USD Bitcoin wouldn't be enough to buy you a gallon of milk anyway.

The buying power of BTC is shrinking every day.

[Ibian]

Reposting from another thread:

Real money people are here now and they are probably using every trick in the book to drive the price down so they can accumulate cheap. They won't panic buy the price up like muggles.

Then there is the mining angle. Difficulty keeps climbing, which means less profit for miners which means they have to sell more to remain solvent. Eventually a bottom will be reached (the cost of mining a coin).

Based on the above, I'm expecting things to be boring at least until difficulty stops climbing. The latest I would expect things to change is when the reward halves. Which would really suck to have to wait for, but it will result in a higher price when it happens.

That's not taking into account things like the winkle ETF, possible media hype storm or other unexpected events.

[sgbett]

February 2015.

spot on (+/- 1 month)

[exocytosis]

It'll never take off again. Bagholders are cashing out. Every miner, whale and early adopter is losing confidence and dumping their coins, but almost no one is willing to buy, so price just continues crashing. You'll see the occasional dead cat bounce along the way, but the trend will continue being clear: Bitcoin is finding its true, single digit value after being pumped into a sky of delusions by Willybot, Markus and other Karpeles shenanigans. Now that Gox is gone, no level of permabull nonsense or cultist propaganda can sustain the price of this failing commodity.

[sgbett]

It'll never take off again. Bagholders are cashing out. Every miner, whale and early adopter is losing confidence and dumping their coins, but almost no one is willing to buy, so price just continues crashing. You'll see the occasional dead cat bounce along the way, but the trend will continue being clear: Bitcoin is finding its true, single digit value after being pumped into a sky of delusions by Willybot, Markus and other Karpeles shenanigans. Now that Gox is gone, no level of permabull nonsense or cultist propaganda can sustain the price of this failing commodity.

[DeadCoin]

It'll never take off again. Bagholders are cashing out. Every miner, whale and early adopter is losing confidence and dumping their coins, but almost no one is willing to buy, so price just continues crashing. You'll see the occasional dead cat bounce along the way, but the trend will continue being clear: Bitcoin is finding its true, single digit value after being pumped into a sky of delusions by Willybot, Markus and other Karpeles shenanigans. Now that Gox is gone, no level of permabull nonsense or cultist propaganda can sustain the price of this failing commodity.

[hyphymikey]

I'm a miner and a "cultist"... Bought in teens, and I have lost zero faith.

Just because you bought at the top and sold at a loss doesn't mean everyone else is losing faith. Just you!

Everyone knows the Finneys are selling, and buying is off market. There is a bear term in every market. Don't get it confused with make believe stories.

[isov]

I guess its going to take some time to happen this time. Hopefully the downtrend will soon be over and we can have some steady rise in price and something bubblish this winter or next spring. Who knows but I'll certainly hope so. Not selling anyway but it would be nice to see some uptrend again after long time.

[TaunSew]

It'll never take off again. Bagholders are cashing out. Every miner, whale and early adopter is losing confidence and dumping their coins, but almost no one is willing to buy, so price just continues crashing. You'll see the occasional dead cat bounce along the way, but the trend will continue being clear: Bitcoin is finding its true, single digit value after being pumped into a sky of delusions by Willybot, Markus and other Karpeles shenanigans. Now that Gox is gone, no level of permabull nonsense or cultist propaganda can sustain the price of this failing commodity.

Unfortunately this is true.  Bitcoin isn't going back up ever again.  It was all bots.  Now it's just bagholders cashing out to buy cars and gaming computers.

[giantdragon]

Next halving is priced in.

Very unlikely! Buyers must absorb 3600 coins per day now to don't let the price falling, but after reward per block halving this requirement also will fall!