How Does The Future Look For Bitcoin In 2014?

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Economists predict the bitcoin value to reach 10,000$ in 2014

It’s been a up and down couple of weeks for the Bitcoin market as it crashed down and jumped up in the matter of a week. In spite finishing the 2013 season with a shunt, the future of the bitcoin looks ever so bright. A recent CoinDesk poll has showed that most of the bitcoin traders believe the price of the virtual currency will touch $10,000 mark at the end of 2014. So far a stunning 56% of the 5,500 people have said that the value will reach $10,000 this year. 31% of the voter said they didn’t think the price would rise to this level and 13% of them thought the conception of it touching the 10 K mark was ridiculous.

Future for the Bitcoin

Winkle Voss twins have predicted the bitcoin value to reach 10,000$. May be not this year but it will touch that 10 K mark eventually. They think that the present value will multiply by 100 times in near future.

According to the Wall Street analysts, Gil Luria and Aron Turner predicted the price of bitcoin to reach almost $100,000.

‘Bitcoin: Intrinsic Value as Conduit for Disruptive Payment Network Technology’ predicted the price of bitcoin to rise up to 10-100 times of the present bitcoin.

Bitcoin Price 2013

Chamath Palihapitiya, former executive of Facebook thinks, the present market value of the bitcoin will rise steeply in the coming year. The market value of each bitcoin could reach up to 400,000$ mark according to Mr. Palihapitiya.

Political and financial pundit Max Keiser said: “It is inevitable that Bitcoin will become a multi-trillion dollar enterprise because every other currency in the world is tied to dying central banks that are encumbered with impossible-to-pay debts and bankrupt counter-party risks.”

Public opinion

There is no insignificance in the population of bitcoin community. A recent poll by Bloomberg, shows that 42% of Americans have heard of bitcoin and know it is a digital currency. 46% of them favored bitcoin regulation, 39% said bitcoin should not be regulated and the remaining 16% were unsure.

The current value of bitcoin is $775, and still a far off that $10,000 mark. But the price increased 8,723% in 2013, so it’s highly possible that the price of the bitcoin could touch $10,000 mark this year.

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