In the past three months, there has been lots of good news about Bitcoin.  The problem is, there has been more bad news.  As a result, prices have been slowly declining.  From a base of $600, it looks like a new base of $450 is forming.

To break out, and set a price floor back over $1000, the following things need to happen.

1)     Amazon needs to accept Bitcoin.  Let’s face it.  Everyone shops on Amazon nowadays.   Overstock was a nice addition to the Bitcoin chain, but we need Amazon.

 

2)     Coinbase needs to offer a solution, for any sized retailer, that eliminates risk.  Wait, they already have that!  Retailers need to realize this, and offer a discount on purchases with Bitcoin.  When you use your credit card at Best Buy, the store only collects $96.50 for each $100 you spend using a Mastercard.   Best Buy, and all other retailers need to offer a 2% discount for Bitcoin purchases.  With a ½% to 1% fee for Bitcoin, the retailer still comes out ahead.

 

3)     Google needs to integrate Bitcoin, EVERYWHERE!  Wait again, Google has already dispatched a secret team to explore this:  http://www.forbes.com/sites/andygreenberg/2014/01/22/google-lets-slip-that-its-exploring-possible-bitcoin-integration-plans/

If these three things pan out, the results will not be linear.   Much like hitting a trifecta at the horse races, Bitcoin price will go up exponentially.