Post
Topic
Board Speculation
Re: [Poll] Will we see single digits again this year?
by
ciphermonk
on 21/02/2013, 08:08:42 UTC
Very unlikely. There's only 10M Bitcoins out there and they are getting scarcer by the day. More and more businesses and users are joining the ecosystem. Even a modest drop to 25 or perhaps 20 will trigger buying pressure by many investors. I think the Bitcoin economy has outgrown single digit prices and we're not going back there unless the fundamentals of the system itself are shattered.

Disruptive technologies like Bitcoin tend to have exponential user adoption rates which would translate in a proportional increase in price. You can't have an exponential user adoption rate and expect the price to be stable. That just doesn't add up. I believe we are at the very start of the adoption curve, which will take a few years ( perhaps between 5 and 10 years ) to reach the whole population.