Here is why I think bitcoin is going to sharply increase in worth by the end of the year.
Number One: Soon bitcoin ETF's( electronically exchanged funds) will be approved by the SEC. When that happens bitcoin may increase 100 to 200 percent. Because of the requirements intrinsic in a commodity backed ETF , mainly that the ETF must be backed up by real property, bitcoin will be sucked out of the market by fund managers who are required to hold a certain percentage of bitcoin in their own wallets as security for these funds. As there are many big private investors and large corporate investors who want to own bitcoin but can't because of certain restrictions on large investors buying directly into the commodity market and thus controlling and manipulating prices, these investors will be able now to enter the bitcoin market via these bitcoin ETF's. Supply and Demand principle here big time so be watching for when the SEC approves these ETF's and then move quickly before the market responds!
Number Two: China flight of capital. Because of stringent capital controls being placed on the Chinese business community as their economy spirals into an impending economic black hole, bitcoin is quickly becoming the vehicle of choice and store of value vehicle to move yen and billions of US dollars and other fiat currencies out of the country into the safe haven of an offshore bitcoin wallet out of the control of government officials. This situation is worsening and someday the trigger will be pulled by more than just a few savvy Chinese businessmen and bitcoin, if you don't own some by then, will be out of the reach of most people to purchase except in micro amounts. I have seen calculations based on just a fraction of the trillions of dollars of this flight of capital potential being converted over to bitcoin that would take the price of bitcoin over $16,000 per btc.
Number Three: US CONGRESS PASSES A PRO BLOCKCHAIN BILL: "The US House of Representatives has passed a non-binding resolution calling for a national technology innovation policy that includes supportive language for digital currencies and blockchain technology." from Coindesk.com Sept 20th 2016. This essentially is our government giving the go ahead to explore the implantation and development of bitcoin and other new alternative crypto currencies.
Bitcoin is going mainstream! I tell all my friends to at least buy ONE bitcoin. With the profits from just one bitcoin you can invest in other crypto currencies opportunities . There will be a lot of opportunities and if you can't take advantage of bitcoin right now, you haven't missed the moon ride, just one spaceship heading that way.