By | 14th August 2014

The price of Bitcoin by the end of 2014 is up for much speculation. It is no secret that since entering the market, Bitcoin has been very volatile and has seen some wild fluctuations. From its beginning of around $10, to its dizzying heights of $1200, it certainly has been a rollercoaster ride!

I’m sure many investors who bought in at over $700 are probably hoping for a major increase in price, the question is, will they get it? We can track most of the major drops in the price over the past couple years. With the hacking of Mt. Gox being one of the biggest and the lack of Chinese banking support. These have seen the price get chopped in half.

With that being said, Bitcoin is still in its infant days. It is a reasonably new technology/currency and it will require a lot of advancements and global recognition before it properly stabilizes above four figures. A lot is being done on a daily basis to help spread the word about Bitcoin and there is no shortage of news regarding it. More and more countries are recognizing it as a real, taxable currency with some also introducing Bitcoin ATM’s.

At the time of writing, the price has been on a steady downward trend to around $500 and I expect it will hit the bottom at around $450. At that point, I’m expecting a rally back up in the next few months to $600 or so.

My prediction for the end of the year? I think there is a lot of good news on the horizon and we may start reaching the levels of around $800 by December. The slightly optimistic side of me wants to say we will hit $1000 again by the end of the year, but only time will tell!

 

 

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