Bitcoin price at the end of 2014

We have recently witnessed a sharp decline in bitcoin price. Bitcoins have always been little volatile and in future there could be more such bitcoin price fluctuations. Such a volatile behavior force many to think about safeguarding their hard earned bitcoins. There are millions of people who put in efforts in mining bitcoins and it would be disheartening to see the prices coming down.

Question: Considering the Bitcoin's volatile behavior, will it be a good decision to invest Bitcoins in some other cryptos which are less pricey and have a potential to grow such as XNF-NoFiatCoin?

 

I don't think XNF will grow at all considering the model they're trying to push. BTC is so popular because it is decentralized, meaning there is no central authority controlling the release, spread, or price of them and they're damn near untraceable.

The truth is that BTC will rebound. Back when I first started watching the market BTC shot up from somewhere around $20 per BTC to $100+. There was a large hacking and the coin dropped to $12 per. I stopped watching and said it was just going to die. Came back 8 months later and the coins are almost $1k per.

 

There is no doubt that Bitcoin will rebound to previous levels in fact will make new high this year.

As for the XNF, I do accept that its going to be bit difficult to make people digest a centralized coin specially when so many decentralized coins are rocking the world. But this does not make bullion backed coin a bad one and its not like such model cannot exist. My guess is that it will take a while before people accept the coin. If successful this coin will change the rules of the game.

 

Investing in bitcoin alone is a smart decision, you just have to be clever in predicting if the price will go up and down so you will know when you’re going to sell or buy. If you want a less risky investment, then investing in other cryptos might be a good alternative as well.

 

If I would have to place my horses on a dollar amount, I would say that Bitcoin is going to be no more than $400 by the end of 2014. That's just a rough estimate being only a third of the way through the year. If you asked for a biggest high and steepest low before the year's end, that would be an easier guess in my opinion.

My reasoning for this estimate of Bitcoin's price being >$400 by the end of 2014 (Recent events, only):
-The IRS ruled Bitcoin is property and therefore taxable.
-China is beginning to close bank accounts linked to Bitcoin exchanges.
-Warren Buffet and Marc Andreessen battled over Bitcoin and proved two flaws in thinking about Bitcoin.
-Mining's difficulty is increasing exponentially.
-Studies are coming back that the Blockchain can be traced to individuals people if an exchange is subpoenaed for the owners of individual addresses.
-Mt. Gox went under along with $400 million worth of Bitcoins due to, "malleability exploits," which has shaken the public's trust in Bitcoin.

 

News for bitcoin has been really dry lately. Nothing is really happening except occasional problems and further regulation. I'm putting my money on the underlying technology and its general applications rather than Bitcoin itself. Remember, many inventions end up being used for things drastically different than they were intended to be used for.

Much of the public knows about Bitcoin now; we probably won't have another rise due to the public hopping on like they did when silk road got shut down.

Do what you want, but I will continue shorting Bitcoin.

Also, you really kind of need to study economics to understand why, but control of the money supply is an extremely useful and GOOD tool as long as it is done appropriately. Bitcoin is an invention used mostly in well off countries that already manage their money supplies well. It's kind of silly really. And no. It is NOT anonymous at all.

Also, it is a horrible idea to allow the money supply to be capped. The whole reason countries around the world moved off the gold and silver or similar standards is because of the deflation caused by these capped supplies. In America, for example, farmers suffered under the gold standard due to deflation. There is actually a cool interpretation of the Wizard of Oz that relates to the farmers' need to break from the gold standard. Google it, it is pretty cool!

 

When Dollar Rises, Bitcoin rises, when dollar falls, bitcoin rises. its like 100% guarantee you'll make profit lol

 

I actually learned abouthat interpretation in my econ class first semester of college.

 

I think bitcoin has a bright future , indeed there has been a bumpy ride.
I could say its going to be at $300-400 at the end of april. And by December id expect $700+

 

Nothing's worse then paper money, that really has no value.

 

When I first heard about BTC in 2011 I didn't care for them sitting at $10 but once I saw an increase of 60-70 I made a wise decision to invest and made a few quick bucks. I hopped out before the 1k point and know that the BTC will be back to high prices.

 

BTC are extremely volatile I predict prices at 250-350 by years end

 

It's hard to say, I don't want to go in depth either incase Nero reports me for trying to make money, L.

 

It would be great if you guys can provide some form of evidence to support your claims as to why it would drop/rise...

 

This topic is based on speculation. What are you on about?

 

That's not what speculation means...

Speculation requires a solid reason behind as to why a certain thing would rise or fall.

For example: "I believe BTC will fall $XX amount of money because of an upcoming update" or "I believe it rise fall $XX amount of money because it will be added to XXXXX exchange".

Just simply saying "I believe it will be worth $XXX by the end of *insert month here*" without having a reason as to why that would happen is worthless.

 

BTC will continue to rise, even though there are a bunch more of competitive currencies that are being created they aren't accepted as much as BTC and will be soon tossed off. Imposters will still try to sell their type of coin but by copying BTC it draws more attention to BTC which would increase demand for it.

 

All of this information is already priced in. We go sideways for the rest of the year, $300-$500 imo.

 

We all hope for 1000$+