Can Bitcoin do another 10x price increase?

[NotLambchop]

<spergings>

You'll be OK, fake fonzie.  Just hold on tight to your BTCeanie BTCabies Bitcoinz

[grappa_barricata]

Trolling and jokes apart, the amount of money required to pump the price 10 times higher, and sustain it against heavy selling, is staggering. It was easier when the markets were less mature. But now... it can't be done by an handful of individuals. We'll have to wait for systemic demand, like when people are paid in bitcoin for their work and can spend bitcoin for their needs.

[sniveling]

Trolling and jokes apart, the amount of money required to pump the price 10 times higher, and sustain it against heavy selling, is staggering. It was easier when the markets were less mature. But now... it can't be done by an handful of individuals. We'll have to wait for systemic demand, like when people are paid in bitcoin for their work and can spend bitcoin for their needs.

It's staggering how far the amount of money involved has already come. A few years ago I would not have believed today's cap could be reached.

[jermwerty]

Trolling and jokes apart, the amount of money required to pump the price 10 times higher, and sustain it against heavy selling, is staggering. It was easier when the markets were less mature. But now... it can't be done by an handful of individuals. We'll have to wait for systemic demand, like when people are paid in bitcoin for their work and can spend bitcoin for their needs.

It's staggering how far the amount of money involved has already come. A few years ago I would not have believed today's cap could be reached.

The problem is humans mentally adjust to a "normal" price.  If you had asked me if Bitcoins would ever hit $100 when they slumped to $5 range for almost a year after hitting $26 I would have laughed "HAH!".  Compared to any of the richest people in the world, the BTC market is still an infant.  

People are thinking of BTC like stock these days.  $370 per share, 21million shares.   Compare that to Apple with nearly 6 BILLION shares outstanding!

Now consider what an entire currency is worth.  Bitcoin can't be split.  The only option is for the value to increase.  The problem is once we got past the previous ~$1100 high, it will really be completely unknown territory again and its anyone's guess where we will eventually land before it crashes back down.  If I had to guess?  ~$10K peak crashing back down to $2500.  

What we are missing today however is a killer app for Bitcoin.  Once consumer demand starts to match retailer demand the snowball will make today's prices... well seem like $5 again!

[Mervyn_Pumpkinhead]

It's possible but it's not probable..

[wang_yan]

I expect the price of bitcoin not increasing too much before I can buy a lot.

[sidhujag]

May takeanother yr to weed out noobs

[Atdhe]

Trolling and jokes apart, the amount of money required to pump the price 10 times higher, and sustain it against heavy selling, is staggering. It was easier when the markets were less mature. But now... it can't be done by an handful of individuals. We'll have to wait for systemic demand, like when people are paid in bitcoin for their work and can spend bitcoin for their needs.

There is enough money on markets. QE is digging a grave for the old currency here. But the money are the second step. We need more good news and real business. Also doesnot helpwhen many of the BTC community are simply lazy guys who never did nothing and w8 for 1m/btc. People with money will never believe naive leftists who chase revoltion that will never occur.

So when the value will be seen in BTC, the money will be found at corporations or at markets. When 1st central bank will buy BTC the increase will be bigger than 1yr ago. But that is nowhere close. For now it would be really good if all junkies would use darkmarkets, because it is huge market and on the other side if the fancy-good-for-nothing BTC projects would continue to rise VC and create at least nicer face of BTC.

[Notanon]

I think it could, given that the supply of relatively cheap coins will start to dry up once the Silk Road coins are auctioned off and also that the effects of the Mt.Gox debacle seem to be waning. It would also be a matter of making sure there is an easy adoption for the not-so-hardcore users out there, be it an automated exchange app for day-to-day purchases and so on, instead of people having to mess around with first mining or exchanging them via bank transfers. If it's too hard or too much of a hassle for someone to do this, a lot of people will not bother.

TL;DR Ease of use and exchange will be the key to a 10x price increase.

[Atdhe]

Bitcoin exchange needs either hard cash or authority backing the transaction.

Since the authority can be only multibillion corporation, who does not want to be scapegoat for gvnmt, this option is closed.

So what remains except bank transfers that are almost hard cash? Localbitcoins maybe. Everything else ends in man in the middle scam.

Btw. as relatively new user I can say the bank wire is not the hardest part. The hardest part for normal human is the core. Weird addresses, many new weird terms...

[spiderbrain]

We're at $5 billion market cap at the moment, only a few percent of that is floating around exchanges, say roughly $100 million. The central banks of the US, Europe, China and Japan are printing more that $1 trillion a year at the moment which is flowing into the usual commercial banks and abstract market instruments.

IF (note the big if) 1% of that went onto bitcoin exchanges, that would be $10 billion, or 100x the cash currently on exchanges, which would produce a, roughly, 100x increase in e price. That's just the hot money flowing around at the moment. The money exists, it just doesn't want anything to do with bitcoin at the moment. We'd need some major inflation or another credit crisis to get them interested, I suspect. Japan may end up delivering for us in not so long.

I'm not that much of an uber bull, but the possibility does exist.

[rogerdonkey]

Bitcoin 10x price increase,maybe not in 2015.but i hope that's will happen to bitcoin

[fonsie]

It's not a question of IF, but WHEN.

[BitCoinNutJob]

Just thinking... We are in a bearish market for almost a year now. Can we sustain another 10x price increase in 2015? Or are those days gone forever?

I can't see anything good in the market right now. All good news have no effect on the price, which stagnates for about 2 weeks.

Almost everything is good in the market right now, predicting when bitcoin will make its jump is very hard, if it was easy everyone would know when to buy in.  Not only do i think x10 will happen but i can see us doing another double movement like from $10-$266 and then $100 - $1000.

The next bubble will be insanity that we've not seen before.

[freedomno1]

Just thinking... We are in a bearish market for almost a year now. Can we sustain another 10x price increase in 2015? Or are those days gone forever?

I can't see anything good in the market right now. All good news have no effect on the price, which stagnates for about 2 weeks.

Well it does seem like it won't happen anytime soon but knowing Bitcoin as soon as that sentiment prevails it will go on a new rally, at least for now the mining has stabilized to the new price level which has been going up since the last price rise so we have an argument for a new trigger to raise the prices again.

[picolo]

Just thinking... We are in a bearish market for almost a year now. Can we sustain another 10x price increase in 2015? Or are those days gone forever?

I can't see anything good in the market right now. All good news have no effect on the price, which stagnates for about 2 weeks.

Of course we can get an other x10 increase and we will but we are not in the position to have it just yet because we don't have the necessary factors yet.

[bellicose]

certainly

We are need open-source exchange for that.

Such exchange that anyone could install on light hosting.
+ decentralized exchange would be too great for this.

[piramida]

We are need open-source exchange for that.

Such exchange that anyone could install on light hosting.

An idea too stupid even by this speculation forum standards. You surely didn't put any thought into it before typing did you. Yes, what we need is more amateurish exchanges run by people with no banking ties and no security experience, that is the way to strengthen faith in bitcoin... right....

[fewcoins]

We are need open-source exchange for that.

Such exchange that anyone could install on light hosting.

An idea too stupid even by this speculation forum standards. You surely didn't put any thought into it before typing did you. Yes, what we need is more amateurish exchanges run by people with no banking ties and no security experience, that is the way to strengthen faith in bitcoin... right....

That is all that exist in the bitcoin infrastructure. 99% of these companies will get shut down when the government comes around & they will add the blockchain to digital dollars.
Read up on it already! 10x increase is literally IMPOSSIBLE.
You have been warned.

[lili song]

my answer is yes, just wait for another year.
Because bitcoin need progress and it's still fragile.

When all people use bitcoin to transfer money around the world with haste & low fee
I'm sure bitcoin will raise

Just watch it