Quote from: 7dimes_Propbook on July 31, 2013, 12:06:54 AM

As much as we all hope it will reach $1000 per coin, I do not believe it will. In my opinion a price of $300 might occur but similarly with what happened in March, I believe the price would collapse. I believe that the average price of BTC will hover around $100 for its lifetime. I believe that people will find $100 to be an easy amount to calculate and also selling with occur from $110-$150 whereas buying will occur in major numbers from $50-$75. Bitcoin prices will definitely fluctuate past these figures but I believe people will find $100 to be the price in the long run due to supply and demand from what I've seen. I'm no economics major though so this is only a slighted educated guess.

As mentioned, I'm no economist either but I'm curious as to why you think it will hover around the 100 mark. Sure it's a nice round number, and I get where you might be coming from with
converting back to fiat, but for us here in Europe (some **350 million people** of us using euros!!), it's equivalent is about 77 euros currently. Not exactly a nice round figure that we can equate to.
It's a global currency, as more and more people adopt, the relating back to older fiats becomes meaningless. It's what you can get with a bit coin which is the important thing not what it's worth in USD or euros or magic beans.

No, the price is driven by supply and demand (and greed). If people pretty much **KNEW** they could offload them in 12 months for $150 you'd have a stack of people queuing out the door to buy them today at 100 USD and that would drive the price up.

Don't take my thoughts look at the data and formulate your own thinking. http://bitcoincharts.com/charts/mtgoxUSD#rg1460ztgCzm1g10zm2g25zv

For the best part of 2 years it hovered around the 5-10 USD range then in Apr this year went ballistic, and almost as quickly dropped 75%. For it to thrive more adoption with a steady growth rate would help.I'd rather see it go up 20% a year than those 50% swings. Right now it does have currently what they call "resistance" there at the 100 mark, but with a bit of momentum I could see it easily breaking the 120 range in the short term. Anything after that, is even more guessing....:-)

but yeah, no reason $1,000 couldn't be on the cards, some day !