Bitcoin Price Predictions
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As most of you may know the price of Bitcoin and other cryptocurrencies has been very sporadic lately. After maintaining a steady $120 or so BTC/USD for more than three months the price suddenly skyrocketed to over $1000. For some reason many people believed that the price of Bitcoins would stay over $1000 and began to invest into mining rigs and purchasing Bitcoins from various exchanges. However, many of us more experienced cryptocurrency users knew that this was merely a bubble and the BTC/USD price would soon correct itself which it ended up doing when China decided to say no to cryptocurrencies. What no one has asked though is what the price of Bitcoin would now settle at. After examining charts I personally believe that the price of BTC/USD is already settling around $700 as it hasn’t dropped significantly like we have seen in the past few days. I was just wondering what you all thought the price of BTC/USD would settle at since even a increase of the previous $120 would be very significant. Feel free to answer the poll and tell me if there is any other price ranges I should add.
P.S. I realize that Bitcoin isn’t Feathercoin and I am posting this in a Feathercoin discussion category, but the price of Bitcoin does directly influence Feathercoins
Can’t actually edit the poll, but it [u][b]should be >$1000[/b][/u] not $1000<
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[quote name=“StrangeAtoms” post=“41798” timestamp=“1386538853”]
when China decided to say no to cryptocurrencies.
[/quote]lulz
[quote author=StrangeAtoms link=topic=5682.msg41798#msg41798 date=1386538853]
what the price of Bitcoin would now settle at.
[/quote]“Now”, I think $750. Tomorrow I think higher, next week I think higher, next month still higher … settling around $2,750 in 2014.
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That is a pretty large assumption my friend. I hope you are right ;)
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BTCs will be measured in first borns.
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The ‘‘no of China’’ is a lie, stop spreading this false news! :o
I hope FTC gets to 750 EUR in 5 years, I’ll be a millionaire then.
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Maybe I said it wrong. What I meant to say is that China is opposed to cryptocurrencies
[url=http://mashable.com/2013/12/08/bitcoin-price-plunge-china/]http://mashable.com/2013/12/08/bitcoin-price-plunge-china/[/url]
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$100,000+ by the time Capt Picard brings Darth Vader and Barbarella back to face the ultimate judgement from Judge Dredd - banishment to Mount Olympus (it’s gonna happen!)
Only joking - I predict it’ll reach about $3,000-£4,000 by this time next year.
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[quote name=“StrangeAtoms” post=“41820” timestamp=“1386540891”]
China is opposed to cryptocurrencies
[/quote]lulz
[url=http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/]http://www.reddit.com/r/Bitcoin/comments/1sbefw/chinese_investment_banker_says_what_nobody_in_the/[/url]
[quote]
“This is GREAT news. B[b]asically China has said, ‘Bitcoin is A-OK![/b] Go ahead, just don’t refer to it as China’s official currency’!Here’s the summary: This is legalization for Bitcoin in China to be bought and sold and traded even for goods and services by everyone except banks and money launderers as long as people don’t claim it is official Chinese currency.†- Travis Savo[/quote]
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I posted this on another board. The further context is the global currency war that is in full swing that everyone knows about. Countries have spent billions to fight it. China is in the process of a long quest to make RMB a reserve currency. They had no intention of seeing that quest stumped by BTC. With that being said, that doesn’t mean the government in China doesn’t see value in it (or hasn’t been buying it up). In fact, China has always been a nation of finding value that they can store and hold, hence their gold purchases over the last few years. The [b][u]Chinese government actually ‘needs’ crypto[/u][/b] to combat USD and hedge against USD devaluation since they’ve been watching the value of their investment in the US dwindle over time. But it is not in the interest of the Chinese government to see crypto be used as a currency by the world, let alone their people. I have not understood the philosophy of some very bright people in this forum, much brighter than me, that crypto is in the stage right now to be rolled out as a medium of exchange in mainstream commerce in the midst of a global economy that has the average consumer scared shitless. Overall, China had to be careful here - they had to, direct their market in the proper form - “this is how we want you to use it…” I think moving forward you will see other governments issue similar statements and direct their native market in similar ways, love it or hate it. After all the G20 or whoever you want to insert here is likely to be in agreement in regards to the ‘ball’ (fiat) used to play the currency game. No one wins otherwise. The alternative now is to gain the trust of the mainstream by allowing governments and banks to buy it up as an investment vehicle, a commodity. Over a period of time that value will be contagious and the seed is planted for the next step.
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[quote name=“TheTribesman” post=“41824” timestamp=“1386541289”]
$100,000+ by the time Capt Picard brings Darth Vader and Barbarella back to face the ultimate judgement from Judge Dredd - banishment to Mount Olympus (it’s gonna happen!)Only joking - I predict it’ll reach about $3,000-£4,000 by this time next year.
[/quote]FTC 3k-4k in a year? Or did you continue joking…
/edit misread it myself, its about the BTC!
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I’d say around $900 by end of this week, $1,000 by end of year. Fluctuations aside, I see it settling sometime mid next year around $1,500. I expect LTC to hold around $27-32 for a while, maybe going as high as $50-60 by early 2014. FTC I’d expect to be relatively low but stable, maybe hitting the $1-2 mark by early 2014 and maybe hitting $5-10 by Summer 2014. Out of all these 3 I expect FTC to have the lowest variance which I think is a good thing.
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We have to take into account the governments involvement in crypto. While China and other countries do need crypto, they will need to be able to regulate it very heavily before accepting it. This is why I don’t predict Bitcoin to soar that high. Very likely countries will create new currencies or try and control the current ones since countries don’t like decentralized currencies.
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The last option should be (more than) > $1000
not < as that is less than. Would like bitcoin et all even in there current spaced out form to continue to grow I think $1500 sometime next year is reasonable. -
[quote name=“kris_davison” post=“41844” timestamp=“1386543657”]
The last option should be (more than) > $1000
not < as that is less than. Would like bitcoin et all even in there current spaced out form to continue to grow I think $1500 sometime next year is reasonable.
[/quote]My mistake. Typed this while working on something and wasn’t paying attention at that point.
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Easy mistake to make :)
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Hey all,
I think we all can be very happy if it reach the 100€ by end 2014 i think it wont reach
So far my speculation Will be between 10-20 mid 2014, also depends on how other crypt coins keep doing… But 100 will make me Really happy and rich haha… -
Here’s a scenario:
At G20, all nations decide to create their own cyber currencies. They pre-mine the entire supply and start trading with each other on new exchanges that they agree to create. They also define these new coins as legal tender.
What will happen in this case?
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[quote name=“bacobob” post=“41850” timestamp=“1386544214”]
Hey all,I think we all can be very happy if it reach the 100€ by end 2014 i think it wont reach
So far my speculation Will be between 10-20 mid 2014, also depends on how other crypt coins keep doing… But 100 will make me Really happy and rich haha…
[/quote]Poll and discussion is for BTC not FTC. People made the same mistake earlier so I may need to clarify it better ;D
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[quote name=“TheTribesman” post=“41851” timestamp=“1386544282”]
Here’s a scenario:At G20, all nations decide to create their own cyber currencies. They pre-mine the entire supply and start trading with each other on new exchanges that they agree to create. They also define these new coins as legal tender.
What will happen in this case?
[/quote]If this happened then they would probably allow all current cryptocurrencies to be converted to there own just because of all the money people would lose. Honestly i’m not sure how I feel about a scenario like this…
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[quote name=“kris_davison” post=“41844” timestamp=“1386543657”]
The last option should be (more than) > $1000
not < as that is less than. Would like bitcoin et all even in there current spaced out form to continue to grow I think $1500 sometime next year is reasonable.
[/quote]I have amended the symbol.
