Bitcoin News – Bitcoin forecast and its performance in 2014 – San Diego Technology |

Bitcoin had an exciting year in 2014 due mainly to the pundits and forecasts according to Coin Desk today. One of the more interesting forecasts for Bitcoin performance in 2014 came from Bank of American Merrill Lynch. The 2014 forecast was a Bitcoin value of $1300.

Tribeca Talks: After The Movie: The Rise and Rise Of Bitcoin – 2014 Tribeca Film Festival
Photo by Astrid Stawiarz
There were wide ranging views. When Coin Desk asked its readers for a 2014 price performance, the poll listed 56% of the 5,500 respondents priced bitcoin’s to hit $10,000 before the end of the year. Calmer forecast prevailed with 31% listing it as unlikely and 13% responded “WTF are you smokin’?”

Dismal views from economist Paul Krugman doomed Bitcoin as a cryptocurrency. Boston University School of Management professor Mark T. Williams continued with his pessimistic forecast that the price of bitcoin could be as low as $10 in the middle of 2014. Neither pessimistic outcome has been achieved for bitcoin.

Bitcoin entrepreneur Roger Ver states his viewpoint is movement upward for bitcoin price: “I actually think $2,000 is a pretty conservative estimate … we don’t know for sure if it’s going to happen in this year, but there’s no doubt in my mind that bitcoin’s price is going to be thousands of dollars and, almost for sure, tens of thousands of dollars for one.”

The 2014 year began with the Mt. Gox collapse and bankruptcy filing in Japan last February The former BitInstant CEO and Bitcoin Foundation board member Charlie Shrem was sentenced December 20 to two years in prison after pleading guilty to aiding and abetting the operation of an unlicensed money transmitting business. He was caught in the Silk Road raids for trading a total of $1million for bitcoins used on the site. His sentence also includes forfeiting $950,000 to the US government.

Ross William Ulbricht awaits trial set for February 2015 for his actions in the Deep Web Tor hidden operation of drugs and murder for hire on his Silk Road bitcoin website. The FBI shut it down when they arrested Ulbricht in September 2013 at the San Francisco library. The remaining portion of 2014 saw entrepreneurial advancement from Jeremy Allaire through his startup, Circle, offer a Bitcoin banking platform and Microsoft accepting bitcoin payment in the US for certain of its products.

Bitcoin was reminded of human limitation when it lost its cryptographic pioneer and the first Bitcoin recipient, Hal Finney who died of ALS at 58 years of age. New York Superintendent of Financial Services, Ben Lawsky, turned the corner against bitcoin as a payment system and began the BitLicense process in the state. Entrepreneur Tim Draper who has purchased seized bitcoin from the Silk Road federal government auction sees bitcoin price at $10,000 in the future.

The hunt for the creator of Bitcoin, Satoshi Nakamoto failed and Newsweek is facing a lawsuit for its false claim. The Bitcoin Comic book, The Hunt for Satoshi Nakamoto, has arrived Bitcoin price on Tuesday at the time of this article is $333.46. Where do you see bitcoin price for 2015? Will you agree with Tim Draper or Paul Krugman?