Quote from: Leoto on February 05, 2014, 06:21:53 PM

It's likely that there are a lot of people on the sidelines waiting for a clear breakout (up or down) out of this $1000 area and once something causes that to happen (and that something could be some random big buyer or seller that happens to move the market since BTC market is still pretty illiquid), everyone will pile on to either take price to the next level ($2,000 for example) or sell BTC down to oblivion.

This is a lot of it. People, and Wall Street even, but when then price is going higher. Yes, we should buy when the price is dropping and/or stable, but that simply doesn't have in "real life". Stock/Committees/etc are one of the few things in life that people want more of when the price is RISING. No one wanted to touch the DOW when it crash in 2008 and was below 7k. Bitcoin flew, then had its mini crash. Now its settled the the market demand is about even on both sides. Building a nice floor around $775-800.

What will move it? W Twins ETF getting approval or a huge online firm accepting Bitcoin like Amazon. Those are my mid term guesses on what can move Bitcoin over $1000.