$10,000 in three years

[trabitc]

I would answer $10,000 in one year, or at least is what I'm hoping..

[Odalv]

Long term support goes up more than 500% every year.

31.12.2012     $12
31.12.2013     $60
31.12.2014    $300
31.12.2015  $1,500
31.12.2016  $7,500
31.12.2017 $37,500

So Draper is really conservative. :-)

[Sir Barken Hyena]

Very little attention has been payed to Bitcoin by the mainstream media since the collapse of Gox. Those of us who follow bitcoin obsessively know there has been a ton of important progress made but for the larger world, it's off the radar entirely. I often encounter people who think that Bitcoin completely died in March and are shocked to learn that it still exists and has held value.

The breakout, if it comes, will be fueled by media hype. What could cause that? Who knows.

[riiiising]

Draper told CoinDesk:

    “I guess the markets aren’t seeing what I am seeing. An entire economy is being rebuilt. I have a price target of $10,000 in three years. Even that may be pessimistic.”

http://www.coindesk.com/tim-draper-bitcoins-price-still-headed-10k/

In three years? Huh, that's a long time for $10k, I say! We'll be there much sooner!

[FUR11]

$10k in three years sounds reasonable! I think we could get there sooner if there's a healthy climb in 2015, and we may cross the $10k in 2016 then. A bubble in 2014 seems very unlikely at this point, though...

[Ektra]

Very little attention has been payed to Bitcoin by the mainstream media since the collapse of Gox. Those of us who follow bitcoin obsessively know there has been a ton of important progress made but for the larger world, it's off the radar entirely. I often encounter people who think that Bitcoin completely died in March and are shocked to learn that it still exists and has held value.

The breakout, if it comes, will be fueled by media hype. What could cause that? Who knows.

More or less this.

[Kupsi]

The ETF will take us there in 12 months if it gets approved.

[Wilhelm]

The ETF will take us there in 12 months if it gets approved.

wrong. this is a dangerous assumption.

if anyone wanted to buy bitcoin, they would have done it by now. there is no money waiting on the sidelines for an ETF approval. they would have used an exchange or bought directly from a miner on contract if they wanted.

That's the reason nobody trades in paper gold 

ETF will make Bitcoin accessible to trading companies and make investing easier, safer and legitimate.

[Soros Shorts]

This reminds me of gold bagholders who bought at the top and are still hoping for $10,000 per ounce of gold.

With the way the US dollar is being systematically "eased" most of us might see this in our lifetimes.

[Buffer Overflow]

I can't see 10K in 3 years. Remember 12.5 BTC will be created every 10 minutes that need to be absorbed.

[lyth0s]

I can't see 10K in 3 years. Remember 12.5 BTC will be created every 10 minutes that need to be absorbed.

As soon as price starts increasing miners start holding more coins, which then in turn fuels higher prices as supply decreases. $10,000 in 3 years is very bearish IMO.

[exocytosis]

As soon as price starts increasing miners start holding more coins, which then in turn fuels higher prices as supply decreases.

And what, exactly, would make the price increase in the first place? 

[inca]

I can't see 10K in 3 years. Remember 12.5 BTC will be created every 10 minutes that need to be absorbed.

Could you see the previous 10x movements upward every year preceding this? What is the difference?

[inca]

As soon as price starts increasing miners start holding more coins, which then in turn fuels higher prices as supply decreases.

And what, exactly, would make the price increase in the first place? 

You know full well..

[DeadCoin]

I can't see 10K in 3 years. Remember 12.5 BTC will be created every 10 minutes that need to be absorbed.

Could you see the previous 10x movements upward every year preceding this? What is the difference?

Bigger the market cap, more difficult and less likely to have 10x upward movement

[srgkrgkj]

$10k in 3 years may sound impossible but can happen the Bitoin foundations allow anything to happen.

[Febo]

Long term support goes up more than 500% every year.

31.12.2012     $12
31.12.2013     $60
31.12.2014    $300
31.12.2015  $1,500
31.12.2016  $7,500
31.12.2017 $37,500

So Draper is really conservative. :-)

it went more then 500%, but in future might not be that high anyone.

[Biodom]

Long term support goes up more than 500% every year.

31.12.2012     $12
31.12.2013     $60
31.12.2014    $300
31.12.2015  $1,500
31.12.2016  $7,500
31.12.2017 $37,500

So Draper is really conservative. :-)

something is wrong with your numbers
Dec31 2013 was ~$800, not $60

[flowerpots]

I don't see bitcoin going anywhere before a new economical crisis hits a (western) country. That's very plausible within the next 3 years.. maybe even a worldwide crisis.. if that happens, $10.000 is very conservative.

[Odalv]

something is wrong with your numbers
Dec31 2013 was ~$800, not $60