Not a very good start for year 2015 for Bitcoin. Today according to bitcoinwisdom and other Bitcoin Exchange. Bitcoin reached record low dipped below $300 (usd).
What does this mean? there isn’t any major bad news about Bitcoin, except the ongoing investigation of MtGOX potential inside job staff stealing Bitcoin themselves. The other news might have impact Bitcoin, but most likely not is the Government around world trying to break Bitcoin, but that’s also ongoing, nothing new news.
My personal opinion on Bitcoin price is that 2015 will be another worst year for Bitcoin but not as same as 2014. 2014 was when Bitcoin in the $800 started to slip down to $500, we thought it would be stable, but it’s not. Then end of 2014 it stayed at $300, then now started of 2015 Bitcoin slipped below $300, $290 (usd). The reason I think Bitcoin will encounter another worst year in 2015 is because of not much happening in the research and developments departments, meaning no new products, no newer sponsorship, no adoption, no forecast or planning of spending Bitcoins, and last but not least – those Bitcoin ATM machine that has been installed worldwide somewhere are not being use, just sitting and collecting dust. The Bitcoin ATM machine in New York for example, within the whole year barely have more than a couple transactions.
So what will happen to Bitcoin in a long run? I think bitcoin will take some time before it will go mainstream, there will be obstacles it has to overcome such as regulation, hacking, being use for illegal activities and so on. Bitcoin started in 2008, it’s been 6 years, Bitcoin reached its highest price of $1100, then started dropping since then within one year down to below $300. There are good chances that will continue to dropping, but also good chances that will go back up again once it dropped so low that investors will jump on it. No one really know. My personal opinion is that once if Bitcoin dropped to $100 it’s totally bad news, but could be good news. Good news when bitcoin dropped to $100 is when investors started to jump back in and start buying and using will cause the price to surge again. What was causing the Bitcoin bubble between 2014 and 2015?