56% of Bitcoin Holders Believe BTC Price Will Reach $10,000 in 2014

http://www.coindesk.com/56-of-bitcoiners-believe-bitcoin-will-reach-10000-in-2014/

Seems a bit ambitious, but when you look at performance in 2013, Bitcoin started the year around $20 USD, and reached a high of $1200, which is ~6,000% increase in price. For BTC to hit $10,000, the price would "only" need to increase 1,200%.

Feasible?!

 

55% of people who voted in a poll on coindesk*

I highly doubt it. If people were so sure of it, they would be buying it and the price would be a lot higher already.

 

Doubt it, I am counting on the LTC however

 

I honestly think that it will in fact rise to $10K I might buy a bitcoin just for the sakes of it and if it does rise up to 10K oh boy I made 9K profit.

 

Don't forget that the biggest (if not the only) reason for the 6,000% rise is the popularity gain of the bitcoin in international news.
As pretty much anybody who can know about bitcoins knows about them now, there is not much chance they will rise by that much again.

That being said, I don't think the bitcoin will stabilize anytime soon, except if the US gov decides to call it quits.

 

Right, people simply knowing about Bitcoin is essentially saturated. However, there are steps which follow. Now that these people know Bitcoin exists, they can begin investing in Bitcoin. Knowledge precedes adoption.

I am not saying BTC will hit $10K this month, but I wouldn't necessarily bet against it.

 

I'm sure a majority of people also believe they know better than the market.* I'd link a really interesting behavioral finance paper if I had one on hand, but I haven't been reading much lately . Personally, I don't think there's any reason for BTC to gain much value, and I think that, due to the massive volatility of BTC, it is ABSOLUTELY not worth getting involved in. There are plenty of conflicting theories about the factors that drive price trends, bubbles, and crashes. I wager that undervaluation of risk is the largest cause of crashes, and I believe that's what's about to happen here. I'll stick to stocks, and even if I only make 10-20% (or lose it), I know that I'll have some money left over next year. If it's too good to be true, it probably is, and any "but THIS is different" argument is probably unfounded; if it's not, I'd love to hear it.

EDIT: First line, asterisk. Just clarifying that this effect is drastically increased when people are involved in the market they're thinking about outperforming. There was a study (I feel Wharton-related, either in origin or in participants) where participants were given two buttons ("buy" and "sell") and a program mimicked some historical stock prices. They were told the buttons would buy and sell stocks upon being pressed and the goal was to time their choices as well as possible because they affected the price. Neither button did anything; most participants felt that they got "better" at the game as it went on when they were, in fact, powerless. Don't be fooled.

 

Well,i don't think bitcoin will go so far.
I believe more in litecoins but thats just me
For daily/weekly/monthly profits,the best invest is PPC and LTC.
Love to buy PPC at 2-2.8 and sell them at 7+

 

I have yet to learn about cryptocurrency.
Judging in the perspective of somebody who knows nothing about it,

isn't $10k just a big dream for these "holders?"

like the reason some people buy stocks?

 

Im starting to learn about bitcoin now...but that would be absolutely crazy if it hit 10k! Now I'm going to ask a silly question, but help me understand! When I look at bitcoin I kinda look at it more as "stock" Is it haha? But basic stock trends would kind of tell me it would drop? But then again I don't think bitcoin reached its highest potential with serious global recognition.

I mean a lot of people "know" about it now. But knowing about it won't inflate it. Once people (like myself) get a good understanding of its world we'll start investing...and that's when it'll rise.

All I know for sure is that I wished I listened to Sythe like 5 years ago!

 

10.000$? Lol don’t think so.

 

I doubt it will hit that high but that is my opinion. I do feel it might still rise tho.

 

I hope not. Keeping the exchange rate stable means that Bitcoin will become more of a serious currency.

 

This is way too fast and too far to claim but who knows, $10,000 per BTC is possible. Let's see how this will grow and maintain its inflation rate.

 

Holy Sh*t... this is a set up BTC will shutdown ...

 

I really hope it does reach that value, could you imagine though. Instant millionaires all over, I'd like to be one too, please.