I have to confess to being wrong a lot in 2014 about the bottom of bitcoin prices. While some pullback was expected following the incredible run from the 100 to 1000 USD level, I really thought the price would be stable after the first US Marshall's sale in June. Bitcoin is down about half since then.
So despite a year of good news the price is down quite a bit. It seems unlikely that adoption is holding bitcon back, lots of new merchants have come on board and the price has continued to decline.
I have to think the exchange traded fund will help, it will provide a high visibility way for investors to easily hold and trade bitcoin in a regulated, i.e. protected, way. However, the idea of paying to hold bitcoin may not wind up being that attractive.
I'm thinking zero fee Chinese exchanges trading on their own accounts
bitcoin they don't have is the key problem. So until there's a run on bitcoin in China, price is going to be depressed for awhile. However, that seems like a pretty weak theory to me.
So as specific as you can be, what is holding the price of bitcoin back in 2015?
