Even though we still have a few months to go until the end of 2014, chances are that this year might turn out to be the worst for BTC. By this I mean the first year so far that BTC will end up in negative territory, 2011, 2012, 2013 all ended with huge upward movements, yet this year we have fallen from January high of $900-$1000 to what we have know $475.
What does this signal in your opinion? This year has seen many breakthroughs and positive news, yet we are down more than 50% this year - unprecedented event in the history of BTC, since all the previous years ended with high gains. Does this mean that 2015 will be a huge year or is it just a small detour along the way?
What do you cryptoheads think about this phenomenon ?
Cheers,
Jay
What does this signal in your opinion? This year has seen many breakthroughs and positive news, yet we are down more than 50% this year - unprecedented event in the history of BTC, since all the previous years ended with high gains. Does this mean that 2015 will be a huge year or is it just a small detour along the way?
What do you cryptoheads think about this phenomenon ?
Cheers,
Jay
September 4, 2013
1 BTC = $123
September 4, 2014
1 BTC = $475
That's an increase of $352 (286%) over 1 year.
It'll be interesting to see what happens in the remaining 4 months.
Spetember 5,2014
1BTC=$488.
It is increasing and I hope end of the year it will reach $550.
My opinion is that the price will not change radically in the last few months of 2014. As much as I would want BTC to be 2,000 USD in December, I have a strong feeling that is not going to happen - exactly because many people are expecting to see the pattern from the last year October - December spike. Majority of this kind will wait until January or February of 2015 and then will slowly give up - so quite a few weak hands will be leaving the ship. Which is exactly what the smart btc players want - to get more time to accumulate btc at these prices (400-600 USD).
2016 should be a year when we reach the long waited milestone of 3,000 USD and possibly 5,000 USD. And realistically 2020 is the date for 10,000 USD in my book. It might come sooner it might come later but that's the rough timeframe. 100,000 USD and all that talk is possible but most of us will not see it in our lifetimes, next generations will see btc at $ 1 mil for sure, in a 100 years it might even be worth multiple millions. And people will still be mining BTC in a century from now ! Maybe on Mars
