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Could the bitcoin priceever climb over $1,000 again? Many of us choose to remember the digital currency in its best days, when one coin was worth about $1,100 at the end of 2013, and those who delve in it regularly want to hold onto the thought that the price could eventually scale that mountain again.
But at this point, how likely is it? The price of bitcoin has dropped about $1,000 this year alone. We have witnessed massive fluctuations in the currency’s price, and many have even gone so far as to say that bitcoin is dead. While the currency can’t exactly be labeled as “dead” (the price has gone down, that’s for sure, but the currency has rebounded somewhat and is still receiving attention from a number of business entities), many are looking at bitcoin with a questioning eye and wondering if it could ever find a true, solid place in the financial universe again and return to its glory days.
As usual, sites such as bitcointalk.org have not really been a huge help. The verdict (no surprise here) seems to be split right down the middle. Some say the price will ultimately climb and reach its peak yet again, while others say the currency has worn out its welcome and is not likely to witness the sunrise.
However, when looking at the bitcoin sector, one can still hold onto hope. Recently, Coinbase secured the largest amount obtained in a Series-C funding round by any bitcoin-related company. Through the aid of investors such as the New York Stock Exchange, Coinbase managed to get its hands on a whopping $75 million. Information such as this could suggest that bitcoin is still prominent, and if larger entities are taking it seriously enough, the price could eventually witness a high-rise again.
What do you all think? Will the price ever shoot back up? Post your comments below?
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I think it will go above $1000 and beyond. Probably not this year I think we’ll only see 3 digit figures in 2015, but it will recover. If you think about it the November 2013 price spike is really interesting because it proves that bitcoin’s value CAN surpass $1,000 per coin. It was just premature. But I think within the next 18 months or so we will see prices over $1,000 and this time it will stay there because it will be natural growth not a bubble like the last one.
It will be at $50k per BTC by 2020. Mining will mostly be dead by then, demand will have gone up and supply will be down. Acquiring will be much easier, and using will be much easier with additions such as address aliases. The unbanked in poor countries will be able to participate in online commerce easily, and for supply to go up, the decimal point must shift right to create enough of the currency to keep up with demand.
This is primarily what I’m banking on… I have mined about 117 BTC since I got my Little Single from Butterfly Labs. I keep it running only because electricity is included in the cost of my rent, otherwise I would have shutdown some time ago, but as long as something else is footing the bill, I might as well keep it plugged up.
I honestly think a $1,000,000 BTC might not be out of the question by 2040, provided Bitcoin can overcome many of the hurdles it currently faces.
lets be realistic here 1btc for 1million?
There’s a lot of “ifs” in there, but I don’t think its completely unreasonable. That’s also 25 years of inflation I’m calculating for, not just $1,000,000 USD as of 2015, which will have the purchasing power of about $412,000.
So essentially I’m projecting that a BTC in 2040 will be worth about $400,000. That sounds like a lot, and maybe it is… who knows?
just wondering, “where are you now?”
I came here fora study. because bitcoin is into a deeeeep DIP right now.
For Bitcoin to remain functional mining can’t possible go “dead”. Miners exist to maintain the network and verify transactions. My prediction is a bit more realistic: The minting of new coins will decrease as the network continues to expand. More and more businesses begin to use Bitcoin to handle transactions, but it won’t matter if they hold a “store” of Bitcoins themselves because every time Bitcoin changes hands a fee is paid to the Network. We will eventually reach a point where the transaction fees per day will exceed the minted coin and at that point, whatever the price is, Bitcoin’s path to being the world reserve currency will be secure.
I also predict that illegal use (drugs, assasins, etc.) will diminish because of how public the ledger it is and how easy it is to convict these people. On the other hand, I predict that Dark Coin will take over that role, but I am reluctant to invest in Dark Coin because it could easily be associated exclusively with illegal activity in which case government’s will be more likely to crack down on it.
I plan on investing 10k in Bitcoin over the next few months and I will invest that regardless of if the price is a penny, a dollar, or a thousand dollars because I believe that it will succeed.
I agree though that the decimal point will have to shift to the right eventually, but right now at least Bitcoin has already empowered people to participate in online commerce. Even in communist nations where the right to buy is heavily restricted people are using Bitcoin to invest and pull out of poverty in ways that would otherwise be impossible
He was trolling around.
But there will only be 21 000 000 ultimately. Thus mining surely will at some point come to a standstill. That’s logical.
Quite the contrary. Remember, miners get paid both from newly minted coins and from transaction fees. Each time you send Bitcoin to someone there is a transaction fee that is paid to the network which is then paid to the miners. As the network continues to expand the number of transactions that must be verified by minors increase and as a result their pay increases. What’s going to happen is that, even though we won’t run out of new coins to mint for over a hundred years, every couple of years your mining returns cut in half while your transaction fee returns increase. In other words, miners will get paid just as much or maybe even more as the system transitions to being supported by transaction fees. It’s very similar in principle to how banks and credit card companies get their money from transaction fees in addition to interest. Even if you hold a zero balance on your credit cards at the end of each month, assuming there are no rewards that cost them money, they still make money off of the transaction fees.
I could agree with this. I don’t know about 50K by 2020 but I do know that everything you say is a possibility. I think the use of Crypto currencies is limitless. The uses we have seen with it are already astounding. Because of the negative publicity and lack of experienced security techs working with it there were several set backs.
Personally, I am interested in seeing the growth of Bitcoin Communities to see what can be accomplished. There is more to learn and what a lot of people have learned already is that you have to be careful when dealing with the currency. As the currency becomes for secure not only will the price rise but the usefulness and interested parties will skyrocket.
What a stupid question YOU DONT NOW!!! Otherwise you will invest now 100K. Will there be in the next 3 years build a brand new populair app. YOU DONT NOW!! So don’t ask such stupid question and don’t give stupid answers down here. Finger in you’re ASS
Learn to write in English before you comment you dullard.
Yes, BTC will hit $1000. again but no time soon, ONLY after security measures are put in place to make BTC a “safe” investment. Safe in terms of reasonable investment security, currently there are far too many ways to lose your money than to make it.
Nevertheless, massive innovations are occurring in the cryptocurrency space, a perfect example is what the leadership at the Einsteinium foundation is organizing — creating a crowdfunding website that accepts CC and fiat. The site will involve 10 different coin communities and is expected to rival the CF big guys.
EMC2’s actions will likely get the CF big heads to look at BTC and consider hosting CC at their CF platforms in the near future.
As CC becomes more mainstream security will be magnified.
It will, but not in 2015. My personal opinion on BTC is, 2015 is the year that determines BTC’s fate as a legit currency. Something that is really hurting BTC right now is the other dumb alt coins.
if it were easier to buy bitcoin it would be way more popular
Supply & Demand controls the price. If the big greedy pump and dump miners actually scale back on dumping it the price will rise.
if we see another cyprus style haircut BTC will get a lot of attention as a safer place to keep some of your savings out of the hands of governments…. and with Govt it is not if but when.
Bitcoins lost all the time from usable supply while fiat currencies gets printed in the trillions. There is no limit on the price of a single bitcoin.
Now it’s $5000. Remake the post!!!