Gonna come down to double digits. Buy for 80$ later in the year. Maybe even 50$.
Can you motivate that statement with facts?
You cannot predict something, based on what you have been seeing on the slowest months of the year.
People tend not to make huge investment decisions during Dec/Jan -- Holiday seasons.
Sure. Longterm growth is broken. Inflation gives shortsellers an advantage over buyers until an equilibrium will be reached. Right now costs of the btc network are 1 million USD every day. This number will have to come down to probably 10% which would still be high but a bit more reasonable. So 30$ for a coin is reasonable as costs of the network would still be 100k$ every day. Given we have speculators in the market who are buying at low prices i think 50$ could go in. This is only if the core-bagholders don't loose faith in which case bitcoin could go back to single digits.
An increased interest from the public and inflow of new money can not be expected in a big way with this past performance. So we will have to hit rockbottom (inflation = constant demand), stagnate there for a bit before we can start a new bullmarket, likely not before 2016.
To break it down to one sentence: costs of running the network are outsizes with the current inflationrate, so it's not flying, or in case it is flying it's flying more like a bird with a broken wing. Sellpressure is a constant factor and will not go away with 3600 new coins created every day. 2015 will be the year for low inflation coins (with a more efficient network) to shine to which group LTC and BTC do not belong yet or anytime soon.
The best time to buy Bitcoin imo is as soon as you hear that there is a 'bail-in' in a major country. Cyprus was huge for Bitcoin and at the time Bitcoin was not very well known. A major bail-in now would make Bitcoin go to the moon.
The reason is Bitcoin is obviously immune from that but people don't really appreciate it until a big event happens in a 'safe' country that makes them realise their money is less safe in a bank. When that happens people all around the world will rush into Bitcoin
question is: why should people buy bitcoin and not another coin with less sellpressure? Running from fiat-inflation to a coin with high inflation isn't a thing that makes a lot sense.
