If we don't rally, closing the year at about $700 or $750 is to be expected. That's my guess.
Statistically speaking, it's very likely that bitcoin will close the year with at least with a 40% increase from opening price. It's happened three out of the four complete years I can see on record (four out of five years, if we include 2010, assuming it started at $0.21 that year). That might meant very little to someone buying at $725, now... I wonder what it will mean December 2017. I'm confident we'll see $980 sometime during 2017, we might even set another all time high. It might seem like a dream now, but $700+ prices were a dream eight months ago.
Despite the blocks being usually full, I think bitcoin still has a huge potential. If I want to transfer $200 to another nation, with banks, I'm looking at a 2% fee and at least an hour (transport and lines) that might be wasted. Once I couldn't sent money to Ukraine, despite the moneygram website telling me I could send the money there, their advice was "maybe another bank can do it". With bitcoin, I can do it in 20 minutes with a 0.1% fee... less, if I've organized my bitcoins into organized chunks I can spend without worrying about transactions being big (I call this "input sanitation").
It's my honest opinion that bitcoin is under-priced. That it has a huge potential that is only partially tapped. That it has a big advantage over fiat. That it is a stepping stone towards the future. I know I'm probably preaching to the choir, but there's always someone new. Always someone reading up everything they can about bitcoin I was one of them almost two years ago... to them, I say:
"Welcome to the lucky few".
Submitted November 27, 2016 at 03:29PM by BlackSpidy http://bit.ly/2gyDRqB
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