Quote from: InitialLetter on May 02, 2013, 07:23:19 AM

BTC is having such a rollercoaster that I wouldn't be surprised by large movement on either direction. Currently, it seems speculation is main reason for the price fluctuation, which in turn is driven by traders/bots doing technical analysis and bitcoin related news. There's also that hype and interest factor to look for which brings in a lot of average people to throw in small sums making a river of demand (This already happened though).

Without very huge news, I think we will see slow decline to test 100 level at least. If 100 is broken, we'll go down a lot further until stabilization. Demand and price will increase in long-term if merchants and entrepreneurs can expand usability of bitcoins further thus leading to slow long-term growth with large fluctuations due to speculation. Exciting news such as huge corporation embracing the use of bitcoins will prolong the currently dwindling hype factor. These cannot be predicted accurately though, unless one has insider information. Conversely, we'll see crash if news are bad.

Just my two cents

nice. first answer with numbers too. Grin