Quote from: cbeast on December 09, 2014, 09:27:32 PM

One year is only a blip in the greater picture. Thank you for pointing out that Bitcoin has so much potential to see the previous highs! You Sir, are a closet permabull. If you really thought nothing of Bitcoin you wouldn't be here. Thanks for all the love you show here!

The MtGox bubble was a scam which generated a bubble that is slowly deflating and it would somehow be logical to fall back on prices before that peak, with two opposing corrections. One correction is negative, as the scam has hurt bitcoin. The other correction is positive, as there is more bitcoin activity around now than back then. I don't think we will see another such peak. With higher levels of capital, with more exchanges, with more derivative tools, only relatively small price evolution is IMO possible, following the expected future fundamentals. Up, or down. I don't know if the bubble from Willy bot has completely deflated yet, or still has to go an end down.

I wouldn't expect ANY strong surge any more. Only relatively smooth evolution. Up. Or down.

If you abstract away the bubble and its slow deflation, you could say that bitcoin came to some sort of maturity and will now evolve to whatever it will evolve into and price will follow - or be a precursor. We're in the "few hundred $" range, and probably bound to stay there for a long time, with rather smooth evolution (up or down), following whatever will become of bitcoin.

In fact, the only potentially strong short-term evolution I can think off, is down, when long-time hodlers will realize that no surge to a few thousand $ is in it in the near term, and will cash out, which may lead to a panic-sell eventually.

Realizing that the surge to $1200 was a bot manipulation, if you abstract it away, bitcoin price has been relatively stable in the few hundred $ since about 2 years.