BTC to break $2,000 mark by Christmas – Experts

In an exclusive to CoinTelegraph, 58 high-flyers from the Bitcoin community attending Amsterdam Bitcoin2014, predict where Bitcoin will be on Christmas day 2014. While some experts compared the task to attempting to forecast the weather on Christmas day – the time of year gives us a pretty good indication what the weather will be doing, and the predictions of some of our experts make a lot of sense given the current Bitcoin climate.

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BTC to break $2,000 mark by Christmas – Experts
In an exclusive to CoinTelegraph, 58 high-flyers from the Bitcoin community attending Amsterdam Bitcoin2014, predict where Bitcoin will be on Christmas day 2014. While some experts compared the task to attempting to forecast the weather on Christmas day – the time of year gives us a pretty good indication what the weather will be doing, and the predictions of some of our experts make a lot of sense given the current Bitcoin climate.


While some experts were quietly positive, suggesting that the price would be sitting at the US$800 mark – this figure seems conservative given the increase in Bitcoin over the past week in which it has climbed over 30%. The majority of experts who were willing to venture a guess thought that Bitcoin would be worth more than US$1,000, with several experts placing the value between US$2,000 and US$5,000.

Of special interest were predictions by Sam Cole from KnCMiner who said:

“Large financial players are entering the market this year. I am talking to some of them. If they are to become involved they need the coin to be valued at around US$2,000 to US$3,000… So I am predicting around US$2,000 to US$3,000.”

Interestingly, Dr. Marco Krohn from Genesis Mining suggested the same figure of US$2,000 to US$3,000. What is it that miners know that the rest of us don’t? It seems they are expecting a second Bitcoin rush this year.

This point of view was supported by Bitcoin investor Trace Mayer who believes the latest innovations in the cryptocurrency will enable Wall Street to come into Bitcoin which will push the price up “significantly higher.”

However, while many are placing their bets on an increasingly valuable coin, members of the Bitcoin Foundation emphasised that for Bitcoin’s long term success, the price is largely irrelevant. Jinyoung Lee Englund from the foundation observed that:

“It is like an early stage tech-startup, price isn’t a measure of success… What is a measure of success is the mass consumer and merchant uptake. One of the merchant payment processors, have signed over 26,000 merchants.”

Dotsub’s David Orban believes that the price is going up but also emphasised that price wasn’t everything:

“Announcements in the space will drive the price up, but rather than concentrating on exchange rates we need to focus on applications that give value to Bitcoin.”

However, some were more bearish on Bitcoin’s growth. Bobby Lee from BTC China, who has been hit with uncertainties over regulation in China, offered a much more modest price, suggesting that it would be over US$500.

In the meantime, be sure to watch Coin Telegraph’s exclusive interviews and decide for yourself who makes the best case and then wait to see what presents Bitcoin will bring you this holiday season.

Sponsors are welcome to offer a prize for the best prediction, please contact: drop@cointelegraph.com



UPD.

Tamas Blummer, Bits of Proof - Don't know

Jesse Powell, Kraken - $1,000,000

Prof Robin Reigland, Stockholm School of Economics - $1,300

Kirill Suslov, Tabtrader - $500

Johann Gevers, Monetas - $5,000

George Frost, Bitstamp - Can’t say

Anthony Gallippi, Bitpay - $1,160

Mary Beth Stanton, Heather Podesta and Partners - Higher than what I paid

Joel Gartner - $2000-$3000

Alakanani Itireleng, Bitcoin Botswana, $10,000

Jinyoung Lee Englund, Bitcoin Foundation - Not relevant

John Karamja, Whive, $2,000

J. Dax Hansen, Perkins Coie - No idea

Brian Klein, Baker Marquart LLP - Higher, but don't know where

Elizabeth Ploshay, Bitcoin Magazine - Doesn't matter

Thomas Voegtlin, Electrum - No comment

Joseph Cutler, Perkins Coie - Beginning to stabilize

Alexey Bragin - I am optimistic

Brian Fabian Crain, Epicenter Bitcoin - $2,000

Brian Armstrong, CoinBase - Going upwards

Lars Christensen, Saxobank - Don't know

Bobby Lee, BTC China - $500

Juan Llanos, Unidos Financial Services Inc - $500

Trace Mayer, Investor - really big

Laura Jeppson, Aoen Risk Solutions - $800

Dr. Marco Krohn, Genesis Mining - $2000-$3000

David Schwartz, Ripple labs - steady rise

Nahid Samsami, CoinBase - No comment

Erik Voorhees, Coinapult - $2,400

Rodrigo Batista, Mercado Bitcoin - $0 - $10000

Gavin Wood, Ethereum - $200-$800 or $900

Peter Todd, Mastercoin - between 0 and infinity

Mark van Cuijk, CoinQY - $2,000

Lasse Birk Olesen, Bitcoin Nordic - $4,000

Brock Pierce, Bitcoin Foundation - $1000-$5000

Gavin Andresen, Bitcoin Foundation - bigger than now

David Irvine, Maidsafe - more interested in what you can do with bitcoin

Ron Gross, Mastercoin  - a few thousand dollars

Roger Ver, Memory Dealers - in the long term is going to be higher

Frank Schuil, Safello - $2,000

Marco Santori, Nesenoff and Miltenburg - Bitcoin has the power to change the world

Alan Safahi, Zip Zap - $500

Andreas Petersson, Mycelium - No idea

Jillian Friedman, Bitcoin Legal - $800

John Light, Cambrian - $1,000

Jon Matonis, Bitcoin Foundation - Logarithmic growth

Steve Beauregard, Gocoin - $600-$800

Gregory Simon, Cryptowerks - 2-3 times higher than today

Ravi Iyengar, Cointerra - higher

David Orban, Dotsub - Price to climb

Michael Terpin, Social Radius - $1000-$2400

Ron Gross, Mastercoin - $4,000

Martijn Wismeijr, MrBitcoin - I don't know

Sam Cole, KnCMiner - $2000-$3000

Edward, Cryptonit - $1000 at least

Patric Stiller, Baytrade Group - $1500-$2000

Kevin Beardsley, Bitcoin Foundation - As long as the community keeps growing

Alan Reiner, Armory Technologies - I don't make predictions.

Average price is two thousand and seventy-two dollars.

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