Friday, July 4, 2014

Bitcoin Summer 2014 - Stability and Good Expectations

For those unlucky enough to buy Bitcoin at $1000 per coin last year, the last 7 months have been difficult times. The price has traded as low as the mid 300's briefly. Between poor regulatory climates in a number of foreign countries and the collapse of MtGox, there has been a lot of negative news.
On the bright side, the tremendous level of venture capital and innovation pouring into development of the Bitcoin ecosystem has continued and even accelerated. The price of Bitcoin has stabilized and has shown steady improvement. The recent US Government auction of seized Bitcoin went very well, leaving a large unmet demand for Bitcoin investors. In the next few months, we can expect Bitcoin investment vehicles to be trading on NASDAQ or even NYSE. I predict significant price appreciation in the next 3 months. (I have been wrong before, invest at your own risk)

Chart since November 2013