In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.
How high can bitcoin go? The real question is how low can the dollar go?
I believe that Bitcoin holds value as a form of 'good money' that is superior to any previously discovered or developed form of money.
Because the supply of Bitcoin is limited, the price of Bitcoin is going to have to increase and increase very substantially over time. My advice is that if you're interested in Bitcoin and excited by Bitcoin, then buy some Bitcoin and hold onto them, and you're likely to do very well over time.
Bitcoin is valuable as a currency because of the economic efficiencies the bitcoin network is already creating as transactions flow over it. As with the Internet, more applications will flourish which will make the bitcoin network, and thus bitcoin as a currency, valuable.
I don't think it's any sort of stretch of the imagination to say that, very, very realistically, each single bitcoin, if bitcoin becomes popular, will have to be worth at least tens of thousands of dollars.
In the aftermath of the oh-so-predictable crash, the Bitcoin fanatics have begun marshaling out excuse after excuse for why this non-investment investment lost so much of its value so fast. One was that hackers attacked some of the exchanges for Bitcoins and crippled it. Really? A hacker can wreck an entire market?
Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.
Bitcoin will hit thousands of dollars per coin, because it's worth at least that much, or it's worth zero.
Bitcoin is really a fascinating example of how human beings create value, and is not always rational... tt is not a rational currency in that case.
Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership.
Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.
The Internet will continue to be valuable so long as it is the most efficient mechanism for transferring data. Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership.
I don't think BitCoin has ever been anything but a legitimate enterprise. Currency is currency, it's used for good and ill.
I care a great deal about what happens to Bitcoin.
Price is the least interesting thing about bitcoin.
If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap.
The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.
