I expect price of $10 for a brief time. I expect it to reach this value fairly soon in a short burst of panic selling. Then I expect a stabilization between $70 - $100 per BTC which is BTC's fair value according to it's market cap for practical usage. My opinion is based on google trends, calculation of people who use the coin practically, interest from conventional investors which is basically non-existent. I do analize the fundaments behind Bitcoin rise and decline since the last summer, and I've been perdicting it correctly.
Technicals: clear bearish divergence, also warn: using log chart is very misleading. Also I find some technical similarities with Gold/USD decline from April 2013. But I do believe Gold will recover eventually unlike BTC, which is not based on anything hard and can easily be replaced by some other (better) cryptocurrencies. Now dollar is on the move up. We need to buy dollars. Gold and Silver will have their final drop during which BTC will sink to the bottom. I do project price of $8-$9 for Silver, and then I will be all IN Silver. I give my advice on this. First buy dollars, wait it to exploade, then sell it for Silver. Forget BTC for now for anything else than shorting it.
Technicals: clear bearish divergence, also warn: using log chart is very misleading. Also I find some technical similarities with Gold/USD decline from April 2013. But I do believe Gold will recover eventually unlike BTC, which is not based on anything hard and can easily be replaced by some other (better) cryptocurrencies. Now dollar is on the move up. We need to buy dollars. Gold and Silver will have their final drop during which BTC will sink to the bottom. I do project price of $8-$9 for Silver, and then I will be all IN Silver. I give my advice on this. First buy dollars, wait it to exploade, then sell it for Silver. Forget BTC for now for anything else than shorting it.