Overall, 2014 could be characterized as a ‘Tale of Two Bitcoins’.
On the one hand, significant bitcoin venture investment continued and much progress was made in furthering adoption, particularly in bitcoin payment acceptance by big brand names such as Microsoft and Dell.
On the other hand, early on in 2014, the collapse of Mt Gox dealt a crippling blow to bitcoin’s extraordinary price momentum. Bitcoin’s price dropped 67% in 2014 from $951.39 to $309.87 (Slide 7) and so far in 2015 it has plunged a further 18%.
Isn't it always a tale of two bitcoins? It seems to be going from strength to strength in terms of infrastructure and adoption and money going in but sadly the price doesn't reflect this. Hopefully it will gain some traction this year.
The price was just delusional at the end of last year when it was being run up to a so-called price that it ultimately wasn't properly valued at. At this point w/ all the VC capital going into certain areas of the ecosystem making more user friendly, the current price is reflective of what most people currently value it at. Even the speculators that think it's undervalued atm still wouldn't go out and pay $350 for a BTC when most people are selling them for ~$300, even it they are bullish. As of this new year, it seems like we're starting from a fresh standpoint and price w/ most of 2014 put behind us. Exciting times ahead!
