Re: What Will it Take For BTC to Reach $1000?

Supply & Demand controls the price.

You forgot to add the third factor that controls the price which is manipulation.

Quote from: josephliton on June 17, 2015, 05:44:55 PM

If the big greedy pump and dump miners actually scale back on dumping it the price will rise.

Most people are mining for profit and that would cause them to dump whatever amount they could get as long as the cost for mining < price of BTC . Miners dumping isnt a reason that the price hasnt reach $1000 to be honest and even with the miners keep on dumping , the price has been rallying for $23 now which serves as a proof that miners isnt at fault for dumping their mined BTC

Quote from: mrhelpful on June 17, 2015, 06:04:40 PM

to pump up prices.

You should be aware that every pump will be followed by a dump shortly afterward . Pump will only create a bubble that burn alot of people anyway which happened at the $1200 peak before

But BTC HAS to keep getting the price higher and higher, eventually a new floor will be set, maybe the next bubble is 2000, and it crashes back to 1200 or something along the lines.

Dont get yourself under delusion that the next bubble will be at $2000 and after that the price would be stabilized at $1200. It is 2015 and people are not stupid to fall into another bubble anymore because the peak of 2013 has burned alot of people.
Also that a bubble is not answer if you are seeking for $1000 price and it is called bubble for a reason. If people are seeking for BTC to reach $1000 then there will be no easy way to do it because only mass adoption could be the reason for it to happen and it wont be in such a short time

The peak of 2013 only burned average joes, the old money has never been in BTC yet, and they will being once Gemini is operative.
BTC will need to have an higher floor, because after a couple halvings the price is better 1000+ or else the mining will not be profitable for anyone.