Current Price Floor (21/11/2015) : $320
The importance of understanding the price floor is to help with investment into the bitcoin space.
Bitcoin price is underpined by it's adoption.
A : Initially 2009 - 2010 it was only the developers like Satoshi where it did not have any value.
B : 2010 - 2011 a small community developed and value was established over forums price of bitcoin was less than a dollar.
C : 2011 - 2012 Mt Gox the first exchange established and the community grew around libetarians and anarchist. Price increased to a few dollars.
D : 2012 - 2013 Silk Road was a unique use case for bitcoin and value exploded to around $30
E : 2013 - Nov 2014 New users and speculators started coming into the space. Mining exploded in popularity and the mining arms race was on. Price increased to around $200.
F : 2014 - July 2015 Bitcoin price went to $1200 but I believe that this was pure speculation and due to events around Mt Gox and should be discounted. Price floor should reasonably be around $230.
G : July 2015 - Nov 2015 MMM Ponzi scheme took off in East Asia new price floor of $300
Awaiting more use case for bitcoin to bring in more users and adopters, which will establish higher price floor for bitcoin.
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