Ups and downs in between? common guys speculate thats what we are here for
Okay completely wild numbers...
Short term (now to mid Jan 2014) I expect a drop -- a sharp one. Longer term, up up and away. Wall Street has funds that are all about buying it. Political stuff could introduce some speed bumps. But here are the 3 predictions:
#1 -- Drop to around $375 between now and January 20, 2014.
#2 -- Increase to over $1800 by May 30, 2014.
#4 -- End 2014 in the $2500 to $3000 range.
Okay, quoting myself here now, I'm going to go ahead and assert that #1 above has now come to fruition. I see Bitstamp touched 382.21 last night which technically is not $375, but I did say around $375, so I think it qualifies. (Camp BX claims it hit $300, but I'm not sure it technically qualifies as an exchange.)
Now it's time to buy with both hands. :-)
If you bought a coin at CampBx the price would probably double
I could be such a whale on there if I were so inclined. It was fun to pick up more coins on the bad China news, though.
And yes, we have virtually our whole life savings in bitcoin now. As shmadz said, it doesn't start out that way, it just ends up like that. We have some sell points that we haven't hit yet, but when we do I will retire.