We may have a long time to go, but, if this chart has any info on how this 2013 bubble will play out, we are still very good shape if people have patience to weather this out.
In late 2014 or 2015 we may see the next super rise in bitcoin, if not sooner due to some media event. In 2015, natural market forces may be pushing BTC up too. Think dollar inflation finally kicking in due to QE3, QE4, etc...
Think of the large western nations as police states. People want to save their money and not have it stolen away by inflation.
Comments
Lebowski
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Remember a lot of the volatility in BTC prices still is because we don't have enough exchanges around the world yet. There is only one exchange with decent liquidity and that is Mt.Gox. And, they are loosing faith. If they don't survive, something else will take it's place -- no worries from the dude, but just examples of how volatile this currency is when comparing it to other currencies. Bitcoin is Batman and corrupt central banks are Gotham.
Lebowski
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Yes. Speculation in 2011. Speculation in 2013. This year though, we had a server melt-down on Mt.Gox that made the popping happen either worse or better than it would have been naturally. Those two long red bars down on the 2013 chart (not this one) were nearly a 6-8 hour period that nobody could do anything and when Mt.Gox came back, people wanted to cancel sell orders but could not.
admin
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Do we know why it popped in 2011? Any correlation to the recent rise?
JorgeAbascal
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I think we will be in that point when bitcoin is 51USD, wait just a little more.