Cointelegraph asks its readers: What do you think the Bitcoin price will be in 2016?
It’s getting fun again…if you’re into Bitcoin and roller coasters that is. The price has awoken from its year long lull and is looking bullish as Wedbush Securities has just raised its 12-month projection for the price of bitcoin from its previous June estimate of US$400 to US$600 over the next year.
Now many are wondering if we will see a repeat of the infamous price run of late 2013.
“2013 was the year investors started to invest volume in bitcoin and was the highest performing asset class of the year,” BnkToTheFuture CEO, Simon Dixon, told Cointelegraph. “2014 was the year of the Mt. Gox scandal that we are still trying to recover from that as it made bitcoin undervalued for long term investors to accumulate a good position. 2015 was the year that everyone talked about blockchain rather than bitcoin and therefore the price of bitcoin remained undervalued.”
Indeed, a lot has changed in 2 years: from a slew of new startups and record investment, to Wall Street and big banks heralding their "disruptive ambitions" as they become smitten with “blockchain technology.”
Cointelegraph reached out to members of the cryptocurrency community to get a better idea of what might be in store for next year, asking…
What do you think bitcoin’s price will be on January 1, 2016?
“Investors will again realize that Bitcoin is the most valuable blockchain and I expect 2016 to begin the year in the US$500-$550 range after profit seekers unload and long term investors accumulate. I expect the long term investors to win and push the price further.”
Nathan Wosnack, UBITQUITY CEO:
Ronny Boesing, CCEDK CEO:
Ken Code, Bitshares Munich:
"Everyone frets over the price. Stop it! Seriously, what matters more to you, the price of your get rich quick scheme or ending tyranny?"
Sergej Kotliar, Bitrefill CEO:
Bas Wisselink, NXT Foundation:
"The preoccupation with price is one of the more damaging things in our industry. Investor motives to the actual technology are unclear and it's not a metric I'd like to make too important."
Paul Snow, Factom Founder:
We would love to hear your thoughts as well. Take part in our poll below!