Bitcoin Forum

Do any of you that follow the price of Bitcoin closely think that the price will ever drop back down to $500 or something close to it? And why or why not?

Probably not. I mean , SegWit is currently at 22% when It comes to signalling and the chances that It's going to get activated are high , Lightning Network should follow it as well so basically Bitcoin is getting developed more and more and that should be followed by  new users joining the community , not to mention that halving block reward is taking effect ... so I really don't see it decreasing , at least not to 500$ . If you want to buy then you should do it now instead of waiting to decrease because that may never happen.

Yeah I am kind of sad that when it was half of what it is now a few months ago I didn't use my brain and get some more, hindsight is useless lol

short answer: NO.

anything is possible with bitcoin price. if nothing drastic changes with bitcoin which means if we continue on the adoption this way price will continue to go up.

but we can never predict incidents like bitfinex hack or something similar. and these things can change the price a lot but temporary

Looking at current interest and momentum, I don't think so.
Even if it does, I don't think it will be an earth shattering event. We should just use the opportunity to pick up some cheap coins.

bitcoin is not a pump and dump, i mean there will be pump and dump but in the end the pump will win on the dump you can see this in the usd chart against bitcoin, bitcoin was meant to have its price increase slowly not remaining in the same range for the whales to squeeze the wallet of newbies forever, you should have bought more at $500 and buying now will give you the same return when $1k will be the new bottom

If Segwit gets activated in its current form is debatable. I would not say the chances are high at this point.

I would say there is a 50:50 chance. We are on an upwards slope at the moment growing at 6% per month. At some point that will accelerate and it will also stop and head back down. The question is when. Will Bitcoin continue at 6% until we reach $1000, then accelerate through to $5000 then head down to $2000? Or will Bitcoin head back down to $400-$500 before growing again at 10 or 20% per month?
I have no idea but if I was a gambler I would say that in my eyes fair value of Bitcoin is close to $2000 right now, so we are vastly undervalued. That does not mean we will hit $2000 any time soon or that we won't go back down to $500. It is Bitcoin so $500 and $2000 are both 50:50 in the next year, we could even see both. Either way buying 1000 Bitcoin now and HODLING for a year or 10 could prove to be supremely profitable.

possible to drop back down to $500. If you remember what happening 2012 and what was the result after 2013 you can understand.Recently price seems to be upward.I think still have chance to increase because price is stop now and wait for next bull.wait so see what will happened near future.

It is possible to drop back to $500 but for totally different reasons

The causes that first made the price to spike up to $1,100 and then collapse down to $200 are virtually non-existent today. Back in 2012, there was only one big exchange in the town, Mt. Gox, so it easily manipulated the price up to that level. Actually, it is quite surprising that it took so long for the price to reach the bottom at $170 per coin. Now, on the contrary, we have a lot of exchanges, and as the Bitfinex incident confirmed, the effect which even the biggest exchanges have on the price is not very great overall and rather short-lived at that. Besides, we had the reward halving, and thus we could rightfully assume that the current price is more organic, so to speak

it's totally possible. all it takes is more buyers than sellers down to a certain level. who would've thought it would go back down to 160? 1100 was la la land but so would 160 have seemed before it happened.

Yeah, I agree with that. Also, the fact that bitcoin price tends to drop at the start of a new year does not mean it will drop all the way down to $500.
Maybe around $600 in the 2017 first quarter.

Maybe in years from now if Bitcoin is replaced by another coin like Monero.
But in the near future I think some huge event would have to happen for the price to drop this much.
More than an exchange hack. I'm talking something like a 51% attack or something that would expose a weakness in the programming/ protocols.

a 51% attack would probably cause it to head for zero. i don't see how it could come back from that. faith would be shaken for good.

the obvious one is more china restrictions. it only took one crappy and seemingly unsubstantiated article to cause a plunge. a properly confirmed one would have it in the bag.

It won't get back to $500, because continued growth is taking place along with increase in adoption. This increase continues as the advancement in technology backing updation is done at specific time interval. Steep decreases might happen if some issues gets generated similar to one that arose in the year start.

very long time bitcoin price down until reach 500 dollar
if accident minner not mining again because is return not competiti compare cost mining opertional

this now support resistance is 600 dollar, if bitcoin price down maximal only to 600 dollar

Just curious what it is about Monero that would make it replace Bitcoin? Does it have something Bitcoin doesn't have?

it's untraceable which might become more important if bitcoin's fungibility becomes a bigger problem. it also has a built in scaling solution where the block size is adaptive rather than fixed. it would take an awful lot to replace bitcoin though.

I think it will not. There's clear signals showing that there is a very strong support in the actual rise. Price might decline a bit, in some time, but definitely not to 500$ as you aked. For me, time as come for us to never go lower than 600$.

I think it is possible but in a slim chance.  Bitcoin current trend is going up, with Segwit about to be activated, and the following upgrades after that.  Unless there is major set-back like several country(that is used to be stronghold of bitcoin) banning bitcoin , or base users of bitcoin migrating to new altcoins but as I said there is a slim chance of it happening.

bitcoin price has been rising with a big strength and nothing can easily change it. at this point dropping down to $500 means a big drop of $270 and that is impossible when there is always a lot of buy support behind bitcoin waiting to buy cheaper coins even if it is $10 cheaper.

It is not looking that way right now as all signs show it going to the top. ;D
With the Christmas season within this month it is highly unlikely that the price will ever drop below this level that you are asking about. If not double it by then because it is just the beginning of the month of the highest selling season of the year and can only get higher then go lower.

I don't think the price will go back at 500$, I think it can continue to raise. But, everything could happen in this world without any notice and can change the price value, so I think it can decrease to 600$ and stay stable at this price.

this time, I also do not believe it. Well, now is a crucial moment bitcoin price increases. so, I do not think that bitcoin prices will drop to $ 500, even I do not think that bitcoin prices would fall below $ 700, I just think of bitcoin prices continue to rise, and this will probably arrive at a price of $ 800 in the near future

What is the $500 price level? It's nothing, really. If there is enough panic in the market due to a major Chinese exchange that got hacked, then look at what will happen will happen with the price. If on top of that we also land in a bear market as result, then you can kiss $500 goodbye. If we can go from $1200 to sub $200, then going from $770 to sub $500 is peanuts.

I think it will no fix that i know it will probably jan-feb we are still @ double top it must go down and it must happen in total panic with fake or real news it will happen price wont just go up without real big news in favour of btc


So ladies and gentleman short btc take profit and buy more because btc eventualy will keep going up just not yet

If your going to buy, buy now!
Or you can join the  club of people
 who missed the train to 10k

Price in China has broken 2 year highs and
Around the world records are being broken
Every week on localbitcoins.com and just about
Every other metric you could measure

Never say never. It is bitcoin - where psychology of the crowd can dictate price even if nothing really happens.
We can have so disastrous bitcoin news: exchange hack, totally unfavorable antibitcoin law introduced or things like that.
It would easily make price crumble.

A ban on Chinese mining would actually help price  in the long run by redistribution of the mining power around the world, but I wouldn't want to wait on that happening while the price is steadily  rising anyway....
Good luck if you want to wait for $500....i think $1500 is more likely to come first

I don't think you can compare the present situation to crashing from the short-lived extreme top of an artificially induced (if you believe the Willybot theory) bubble.
 
We have been in a fairly steadily rising market for almost 2 years now and we're in the midst of its first real upward movement in a month. We're also just recovering from the unpredictable nosedive caused by the Finex hack, which followed on the heels of a major correction after a month-long exponential bubble.

Even the drop from $1200 to sub-$200 took over a year. When the price went from $0.01 to $33 in the Great Bitcoin Bubble of 2011, it took almost half a year to go all the way down to sub-$3.

I firmly believe we won't see sub-$640, and probably not even sub-$700. until after the next major rise, which will probably include a new ATH.

Don't get me wrong. If it were to drop under $600 for some crazy reason, I'd do everything I could to buy as many more as I could. Selling or shorting at this time however, is just crazy.

I think the price may drop and vary in the range of 650-700 USD for some time... Next I see potential for recovery, and a possible bullish trend. I do not imagine that after such falls the price would fall below 650 USD again, there is a lot of events favoring the current uptrend, such as segwit, increasing demand from India, and some other factors.

A month or 2 ago I would have said yes. In fact I had buy orders placed at the mid $500's because I really thought that Bitcoin will stay below $600 until early next year. Answering your question now, I could only tell you to look at the price now and look how strong it is. Does that look like it will go back down to $500 to you?

I think so, the price and adoption are increases quite good for now even if there are some bad news about regulations or ban news, bitcoin price wouldn't drop back to $500. Security issues is the one thing that could bring it down to $500 if happen again like the last time when hacked occurred.

with the latest rise any hope of ever dropping price has been crushed. and now we can only discuss whether or not price will drop back to $650+ range ever in a worse case scenario.

also with this rise, there may only be a correction on the way and if you want to get in (if you haven't already) you may want to consider buying then.

If the price breaks 800 in the next few days, 600 maybe going into the history books, never to be seen again....

Buy some btc before the whales move in and price them out of reach for the common man, or don't  up2u

Yeah, we well remember how you had been claiming that folks were in denial if they expected the price to rise above $600 till the end of 2016. As it turned out, it was mainly you who were in outright denial back then. So what will your next prophecy be? Or will you refrain from prophesying altogether?

So as not to lose face again


In a worse case scenario, Bitcoin price may go down to zero (though that would be a worst case scenario)

Well, theres still.a chance but no one can predict when. Remember the last time bitcoin crashed. We're at $800+ that time then suddenly it crashed and drops at $600+ then $500+. I think the major cause was the exchange site which is poliniex if im not mistaken attacked by hackers and stole a lot of coins there. Crashing at $500 still can happen. Also some big whales can affect the price of bitcoin. If they dump it. Its going to drop.

no because of one simple reason:
price is $760 right now and lots of people have missed the chance to buy and are dying to get in, now imagine price going down to $710 lots of people are lining up with money in hand to buy bitcoin.
it goes to $690 even move people are lining up and at some point it is no longer possible to lower.

it is called resistance.

Bitcoin now are very stable and the price is hard to get down and drop to 500$ per bitcoin. Because bitcoin is very strong crypto currency and many people used it. So it not easy to drop the price because they dony allow to drop it.

Yes anything is possible anywhere still bitcoin's strong community and its hope will not let bitcoin prices to slide down.

The support zones of bitcoins based on 200 days moving average is around $620 to $600 levels as long as this levels are holding we never need to worry about down fall. Moreover we are heading toward any time new high price levels so $500 levels are not at all possible at least for years.

The advantage of bitcoin more supporters and the adoption is fast than the altcoin and i think the price will increase more soon if more people and more stores are accepting bitcoin as payment..  $500 level this few months ago already happen and it can be still possible to touch again back in that price..
Like other said many people are adopting it and we already have a segrigated witness in new wallets..
this coming year we will experience of drop but not so large drop..

I wont happen again, weve already pass the 500$ marked and thats the last time that we will see it. Hello again 1000$. And 700$ will be the new bottom this 2017. Believe me guys.

As I mentioned before, please take what I say with a grain of salt. I will not refrain form "prophesying" because what you call "prophesying" is just speculation after all. This IS the speculation board of the whole forum, is it not? I am not afraid of losing face because I am not an expert and I have never claimed to be one. So take my "prophecies" as you will or just ignore them altogether. But that will not stop me from expressing myself.

Finally, someone else understands.....

Too many threads about people waiting for $100 - $500 bitcoins  when the market is very clearly moving in the opposite direction...

This is gentlemen!

Prophesying is not the same as speculating. Speculating (as in making guesses) about future (including future price of something) admits the possibility of being wrong while prophesying doesn't. In this aspect, prophesying is the opposite of speculating. Basically, it defies the existence of alternative outcomes. If we should have taken what you had prophesied with a grain of salt, we would have had to treat you as a clown (nothing personal here). And I guess many thought of you this way exactly. Whether it is a speculation board is irrelevant, but what you actually say is...

It is a difference that makes the difference

Although it seems some people are fudding I do find this an honest question. Although i believe the 500 dollar price maybe be something that we will not see in the near future.
With a new kind of pump going on, only a hack or something like that can push the price back to 500

I dont think so, bitcoin has become more famous, even some of the movies mention about bitcoin, so there will be more user and then the price rising has attracted even more user to invest in bitcoin, so within more people using bitcoin the price will keep on rising and it will hardly go down

A value in the $ 500 range, for today's market conditions, is quite unrealistic. But I believe that if there is panic in the market, Bitcoin can enter the range of $ 650-700. I think it would not stay for a long time in this range though, and then there could be a strong bullish trend after such event.

LITERALLY YES, it is poosible for bitcoin price to go back at $500 level and even lower from that. Those said events or technical aspects that mentioned in some replies here are those things that will block the bitcoin price reached that level. But for the possibility, we can't erase the fact that the price has a chance to go back again at $500 or below level. If there's a big event that can push the price up, there is also a big event that can push the price down.

So for now, chances of hitting $500 again is really low. Bitcoin will emerge as years passes by. Stability is the key for bitcoin price to move from one level to another.

Take of what I said as you will and see me as you will too. I do not care. It is your right and I do not judge all of you for it. The wrong thing to do is trying to discourage a person from expressing himself simply because he or she made a mistake. Get off your high horse as if you have not made a mistake yourself.

Your mistake was openly bullying people, not being wrong in predicting some price

No one would actually give a fuck if your prediction or prophesy came off false. You are not discouraged from expressing your opinion (whatever that might be as long as it doesn't break the rules, of course), you are discouraged from pissing people off. And it is no good either trying to hide what you had been doing by sticking to all kinds of dodges. If you didn't care why did you decide to lock that thread?

I sure, now and future day bitcoin can't drop back down $500 again. Now, the price in 2016, increase more than 300℅ since beginning year. Supply bitcoin is can't added but demand always increase, so the market rule is price will increase.

don't be too confident with saying that the price can't drop to $500 anymore. i have seen the price fall from the $1000 price level all the way to $190. and i even thought a bit lower than that. a drop of more than $800 can you imagine that? probably not...

The overall perspective is bright and it's been a very good year indeed. So unless anything dramatic happens, we are not likely to see the $500 mark. But i would not rule that out completely.

so true. do not be so negative in this case. I believe that the price of bitcoin is easier to go down than when the price goes up. so, I never thought that bitcoin prices will return to $ 500 price again. Well, I just focus for a higher price than today, because it is bound to happen

I have seen those big price changes too and that's one reason I asked the initial question. It seems unlikely for the price to drop that low again but we have seen strange things happen. The positive now is that with more time passing, theoretically Bitcoin is more established and therefore more stable.

Bouncing back to 500 would require some triggering event I think.
One of the major exchanges had to go hacked or go bankrupt, taking all the users coins with it.
Under such a scenario I would think a loss of trust would be possible that could lead to a massive drop.

I think there will be a flash crash to 300? 400? on some exchange....this happens every so often in BTC

flash crash? what you mean by that? i don't think the price will fallen into 300-400, because peoples will not let it happen and if we see, they bought at level in above 600. but its all up to market and the people itself, i am follow with the market for the best choice for me.

You can never say never when it comes to bitcoin.The volatile nature of bitcoin is the best thing that could happen for traders and you might see $500 some time in future .If you look at the price chart the price of bitcoin has already crossed $1000 mark once and if you remember the prices went back to $240 .So you cannot predict when it comes to bitcoin

Bitcoin price movement is simply unpredictable, so we can't completely deny that bitcoin price won't fall below $500 considering the price movements. Over the years, with continued adoption bitcoin is expected to increase high than falling steep down beyond limits.

That possible can happen. Some new hacking attack on wallets or exchangers and stealing bitcoins from there may affect on bitcoin price and may drop it to 500$ again.

I think that is behind us, bitcoin is going up and I think in case bitcoin drop so much we can see zero shorty after that. There is no going back, every year bitcoin is more stronger then the one before, 2017 will bring many new things.


We had that this summer and price dropped and recovered shortly after. I know that this situations bother bitcoin progress, I hope we will not see anything similar, and that exchange sites will work more on their security.

I am not sure that bitcoin will come down to the price of 500USD. today bitcoin continues to grow and increasing number of users. bitcoin prices continue to rise, and I predicted prices could reach 1000USD for a few months.

Everything is possible, 500$ or even lower if this will be the conditions on the market. Some big hackers attack on exchangers can make the price go down big time. Bitcoin ccould be sensitive to side effects but we all hope this will not happen and that the price will continue to rise.

if bitcoin price goes down to $500 these days i will sell my house and all my belongings and i will also sell a kidney to buy as much bitcoin as i can but that will never happen and days of cheap bitcoin are over.

If I got it correct, a flash crash refers to a sharp price decline which persists only for a few short moments, like what happened right after the Bitfinex incident. Back then the price momentarily went down to $470 per coin. It looked like some whale had panicked or on the contrary tried to instigate panic selling, but since this effort obviously failed (whatever it might have been), the price quickly rebounded...

But those who placed their buy orders somewhere around that price made fortunes of this flash crash

It was not bullying. It was simply a sarcastic tone to get the attention of the people who keep hyping when there is nothing to hype. Also for your information it was not me who locked the thread. A moderator did. Someone must have reported the thread because that someone probably got annoyed.

Just in case, it was not me either locking or reporting that thread. But since you seem to accept that peeps got annoyed with your attitude so much that a moderator had to lock it, how is that different from openly bullying them even if your intention was only to be sarcastic? Personally, I thought you had been deliberately making a provocative post with the aim of setting discord and inciting angry responses from users for your own amusement...

Something that licensed trolls usually do

Thats depends. If people attitude will be bullish and price wont reflect the rise in price it could mean good indication that the price will go somewhere around 600 usd. 500 usd per bitcoin is highly unlikely. Maybe it could just touch that on some flash crash and fast bounce up.

The closes price when bitcoin goes down will be 650. That price will be the new bottom price of 2017. And i think bitcoin could go at 2000$  mext year. Demans is increasing ,new users who is willing to understand what bitcoin is and what it can do.

the halving did indeed increased the price at the end, so prediction was correct almost double of the previous bitcoin value

This.

While anything can happen I think is very unlikely we are going to see that price again the 700+ mark looks good and there does not seem to be any signal we are going to see such a price drop in the short term.

I won't say that 1000 USD is reachable in a few months. 500 USD has a greater chance to happen than 1000USD. But the halving really did have an impact, a little bit delayed but now very noticeable.

I don't think there is a big chance to BTC hit $500 again. We are very stable in $700 house, the chances are good to go up! Step by step we are getting closer to $1000, I think in the next months this amount is very possible to achieve. The BTC price has no reason to decrease, just to increase.

Of course it is theoretically possible, but it is not so easy under the current circumstances where we can see an important consolidation in the bitcoin economy, and it is really evident that price variations are not as volatile as before. Perhaps we could see eventual drops to $600, but it seem a solid support.

Yeah, nothing is impossible since bitcoin market cap are not so huge, less of liquidity and security breach such as hacked could affected the price drop back down to $500. Well, for now bitcoin price has step by step increases and look more stable than before, hopefully we don't get any trouble to bitcoin.

Some things cannot be predicted. I don't know anyone who knew that Bitfinex would be hacked and that cause btc price to drop by 1/4
Event/news like this are major pushers in price department.

$1k+ is more likely than $500 at this stage
its buy now or be sorry later i think ......

I think not anymore since there are many users now, so the money or bitcoin will generate so it will grow higher/

Yes, as the time goes by the value of bitcoin is increasing , not decreasing so since it is increasing it is impossible to get the
price of bitcoin low.

It will be very difficult, indeed, to see Bitcoin below seven hundred dollars from now, but it's possible that it will occur for a brief moment. In panic-selling situations, it would be possible for Bitcoin to reach a minimum of $ 670, but soon thereafter the price would likely rise above $ 700 again. As you said, anything can happen.

One more point,if a whale holds the bitcoin on its own wallet then we might get that thing or have that value
and I know this won't happen because everyone wants to get money, so we hope big whales will gonna generate their money then.

Well this time very small chance to drop back down to $500/BTC.bitcoin is now pretty much stable and I don't think bitcoin will be drop from this position.I am pretty much positive this time I saw some people said bitcoin will reach $1000, I think still have chance to increase price and reach $1000.lets see what will happen future.

My answer is yes and the supposed time is year 2020. Reason: btc has already been $1k and then it dropped to $300 or so. Big operations with btc stolen and halving are two things which are likely to make the price go down. Another thing is electricity becoming more expensive in poor countries trying to integrate into EU and stuff which is happening in my country now. If electricity is not cheap then mining is unprofitable, the whole process stops and btc explodes.

in your dreams lol
ive never seen such a backwards argument so il have to assume your trolling  :D

I do not think it will happen anytime soon but of course it can happen the bitcoin can crash on some point people forget its an unstable currency and that it can go all ways.

very imposible bitcoin price can down until reach 500 dollar
bitcoin user community and miner not need bitcoin price is under 500 dollar
posible is only big news, crash in tx id, exchanger hack, same  bitfinex incident after hack bitcoin price down

It is called a signature campaign.

No one can predict the market. Everythings is can be happen even you say it down to $100 or growing $10.000.
But if the community spend bitcoin everyday to pay anythings, it will make bitcoin strong in the market.

That's true, no one has got a crystal ball. But I do not think that it can go down to even below $300 as the level of adoption has grown immensely recently.

Its very unfortunate that people are  getting paid to post this verbal diahoerea in every thread....
I will be sure to avoid any company that is using braindead retards to spam a forum in the name of "advertising"   ::)

No its not possible at all, there will be more sellers than buyers rising to optimum level. I would believe that price will be soaring more than $1000 and i don't see that's going down nowadays demand is good to those who use bitcoin. Everyone is using bitcoin in different aspects of spending through payments online, cashing out to fiat, loading mobile numbers instantly. So if we visualize it and make positive approach to what some people saying negative, that would not affect my ideas and motivations towards bitcoin progress.

Bitcoin is now experiencing development and current prices continue to rise so it is very profitable. But bitcoin prices always fluctuate, and we can not guess. I'm sure the bitcoin price will drop probably around 500 - 600. That's because the market price may not always go up, there was a time when the market price will drop. But after that the price will go up again higher, and that I think is reasonable.

You already stated above that the price of bitcoin is always fluctuating so that means that dumping to 500$ price is quiet impossible now because it's current price is far from 500$ and i think bitcoin price already passed that price coverage. Only major incident just like bitfinex issue will made the price of bitcoin dump hard again but besides that, i think it is impossible.

It's funny that when people talk about reaching $1000 that they see it as an easy thing (which it's obviously not) that might happen this month, but when they talk about $500 it's next to impossible to see such prices, while the difference to reach both levels is not that large ($230 to reach $1000 and $270 to reach $500). It doesn't only depend on whether or not we'll see another major exchange getting "hacked" as some people say. We can very well land into a bear market that is pushing the price slow but steadily towards $500 prices. Realistic possibility since the price can't only go up.

There will not be such a market as you describe for the simple reason that there are now a greater amount of bulls than bears and people in certain countries are even paying 25% over the spot price because btc is in short supply..... Already

$5-10k before the next halving, if anyone needs to accumulate under 1k the train is leaving the station....

I think that's more likely in quieter periods. people probably have more buys lined up when there's an atmosphere of anticipation. 10-20 dollars falls have been munched up recently.

that could be possibly happen if there will be a lot of users that will cashout their bitcoins from their wallet im pretty sure that the price of bitcoin will be decreased thats why its possible that the price of bitcoin will drop back down to $500. but im hoping that it wont happen because im still waiting till it reach $1000 so icould cash out or sell my bitcoin on new users to create more profit from it than spending it on something.

I could see $600 again without any surprise. I'm not sure about $500 though. Maybe after a bunch of ddos and bad news it could tank that low. If bitcoin hits $500 it will probably mark the end of bitcoin.  :-\

Price will never drop in that range what you think bitcoin price will leap into that price drop instantly ? Hell nooo bitcoin now is getting stronger and becoming the world wide currency even in india they using bitcoin now with +15% price of it.

If we saw a price of 670 then that will be a moment to buy more bitcoin for me because I really think the 700 mark is going to be the new floor for quite some time.

I would like to think not because these days all bitcoiners are seized with optimism, but we must not forget that even when the price reached its historical record +$1000, during the following months it fell to $200. It is true that these days the price of bitcoin is more stable, but there will always be a possibility to buy more cheap bitcoins.

Maybe theres a possibility that bitcoin will drop at that price. But it has a really thin chance to happen. I saw that price when poliniex hacked and stole their customers funds. I think if that happen again. It will crashed at that price or even worst. Big whales also can be a huge impact to bitcoin when they dump their holdings. Bitcoin is really getting strong right now and no signs that bitcoin will crash. But we cant really say it will never going back to that price again because bitcoin is volatile.

Yeah maybe you're right, now the price of bitcoin is improving because many factors that make the prices continue to rise. Especially now that more are using bitcoin thus affecting the price to rise. But the market price may not always go up, there was a time when market prices fall. I think it should be wary, but I agree with you for the current price of bitcoin is still safe.

bitcoin price will rise as long as there are people who have not yet invested in bitcoin, in other words it will rise as long as there is more adoption. (the rise in demand with the same amount of supply which is also decreasing in rate)

and that time you are pointing out in your comment that price were falling was because it was in a bubble, a fake price rise that was big, fast and fake created by pumpers known mostly as mtgox so price must have fell back then.

Simply impossible. The traction is too strong, nothing can stop bitcoin now from reaching the new all time high, there's no stopping now, all those people waiting for the perfect price to enter will be keeping left behind. There will no be major backslash until we destroy ATH and achieve 3000+ per BTC, then a big dip to an unknown price, then we are back on track.

Vast enormous piles of chinese and worldwide cash have no place to go
bitcoin is becoming the only safe option for more and more people globally
it will also be used as a hedge for those in the first wiorld who are already wealthy
in conventional assets and cash

THIS IS GENTLEMEN !

Everything is possible but China is not going to let it drop back down there anytime soon. To much support so only a hack or real bad news will see the slip back down to them lows.

There is always a possibility.  Remember way back 2013 of Dec. when Bitcoin reach its ATH, then after that it goes down to sub 200 before going up again.  Even though the situation today is far different than that of 2013, there is always a possibility for bitcoin price to drop to sub 600 USD but not now.  Because Bitcoin is being bullish and there is lots of positive things to happen to Bitcoin in its development.

i think too sir, we can see the price is get a good trend to increase in the market and even if the price is not going to somewhere, but i am sure that the price will never drop back to $500 unless there are no people will want to use bitcoin anymore.

Wealth is not money

Many people seem to be confusing them. Wealthy people are not storing their wealth in money. They are storing it in assets which are constantly generating money. Even Bill Gates was said to be spending the proceeds from his ownership of Microsoft to buy shares of silver mining companies. It is usually governments and central banks who are holding piles of money and other monetary assets (e.g. Treasuries), wealthy people tend to buy yachts and other luxuries. I don't think they would be particularly interested in Bitcoin

its possible , price can be rise or down its depends on demand , and i think bitcoin demand is high

the price would probably  not be where it is today if it were not for wealthy chinese divesting their stacks of cash
wealthy people horde money in all its forms including assets ,i think bitcoin is slowly becoming recognised as a safe
store of value and hedge against market volatility with the added bonus it can be kept away from prying eyes fairly easily ;)......

yes ,a few wealthy persons may be yachts ,but they would represent  a tiny number on the top of the pyramid of wealth ,akin to the persons who buy private jets and such ..........

Like WuTang Financial, Diversify nigga!

I think that in the long run, everything will go to zero. But then, in the long run, we are all dead ;)

I think that a lot of bitcoin price rises are definitely just overhyped prediction and speculation. So once people realise there is no basis behind the rise of the price they may start to dump, leading the price dropping to potentially under $500.

your comment does not make any sense.
even if price goes up because of a hype, people are buying it to go up which means a buy support is there and if you ever check some exchange an study the orderbooks you can see that support there. and even if some start to dump there are so many others waiting to buy bitcoin based on that support and it prevents price from going down specially so low to a $500 price.
and besides a sell needs a valid reason, not just a random one. random dumps are small.

Unless everybody leaves bitcoin, then probably. But I don't think it'll happen anymore as bitcoin has been getting more and more popular this days. Also there is no other clear alternative that would surpass bitcoin and in effect replace it. Plus the number of bitcoin in the world is just limited and the demand is rising up each day. So I think this will not happen anymore.

It could drop significantly even if it is on solid footing. Don't depend on it dropping to 500 though.

We should look into this question with a sharper eye (probably, using a microscope). What I mean is that if Bitcoin market cap is only around 12B dollars, how many wealthy people should have invested their stacks of cash so that we could reach that cap? I don't think that many. So I'm still sticking to my opinion that wealthy people don't hoard money or any other passive assets like gold or Bitcoin. They understand it better than anyone else that the only way to keep their wealth is to make active investments like investing in companies, scientific research, technological break-throughs and such things...

Less wealthy people just buy smaller yachts

Why can't it happen again? I think in the case of new hacking attack it's pretty possible. And I think it will happen soon again after bitcoin will cost around 1000$.

I do not think drop will work because always looking forward for the price pump only. Price rise only will provide the good adoption rate in businesses and individual. Hoping for Christmas pump in upcoming days.

As soon someone is willing to sell their bitcoin there is someone willing to buy as soon as possible, the price is going to keep strong for a long time since it does not seem to present the signs of a bubble forming, and that is good for all of us that have some money in bitcoin.

if you could see the graph of bitcoin its possible it could drop back down to $500 i think its because theres a lot of users that cashing out their money from bitcoin wallet so its one of the reason why bitcoin price suddenly dropping down . but if we could maintain our money on our bitcoin wallet maybe thats a good chance to prevent this to happen.

Hopefully English is not your first language and you inadvertently used the singular "wallet" instead of the plural "wallets".

Keeping all your coins in just one wallet is asking for trouble. Never keep all your eggs in one basket.

Whenever you receive bitcoins you should create a new cold wallet. If you have more than a very few coins in any single wallet, you should consider splitting them up into multiple wallets.

Besides being much more secure, it allows you to separate your fully anonymous coins from those associated with your identity.

a very good suggestion, we certainly should not keep all your eggs in one basket, a lot of possibilities that may occur and we have to remain cautious

I think anything may be happen in the Bitcoin , because history of rates of Bitcoin directly saying that nothing is fixed in Bitcoin price .
We already seen in the year 2013 the fall in price was unpredictable and also growth in the price was unbelievable .
So anything may happen .

yes , Ofcourse this will go Down because in every year we are seeing that price of Bitcoin remain constant in the beginning of the year for 3-4 month but after that big fluctuations arise .
So it is possible not closely but still somewhat near of $500

it is possible the 100th time i am saying this in this board. and i say it again.
DO NOT compare bitcoin in 2016 with bitcoin in 2013.
that pump that everybody keeps referencing that caused the big and long dump is because back then MtGox had more than 70% trade volume in the whole world so they could easily manipulate bitcoin price, the whales back then were not an numerous as today.
today the biggest exchange out there with mad trade volume only has less than 13% of the world's total volume and it is decreasing (because of spread) each day eliminating chances of manipulation.

bitcoin market has growth so big, and there are new members every month, if there are more member used bitcoin then the price wont fall down, so as long as the user keep on using bitcoin the price wont go back 500$ anymore

Let's leave MtGox alone

But we still should not forget the dramatic consequences that its collapse led to. History never repeats itself, so, as you say, we can hardly see the replay of what had happened in 2013. But that doesn't itself mean that we are completely insured from the events that would be as serious or even more serious in their consequences that those that the fall of MtGox caused. On the other hand, the hack (or scam) at Bitfinex this summer drastically affected the prices, so can the events similar to what happened to MtGox in 2013 not really happen again?

To see another mt gox situation in 2016/17 is not impossible but it becomes more unlikely every day that goes by...

I have set aside a big pile of cash this time in case it happens and I am sure not the only one who wishes to buy a shitload MOAR Bitcoinz...... But I think the support is too strong and no matter what gets hacked any dip will get picked up almost  immediately.....

If the current price were to drop by 50% people would sell their homes  to buy in and some already are taking loans to buy at the current price so I just don't see it happening....

And this is really dangerous

Since it may be just about time to cash out. People selling their homes and taking loans to buy bitcoins strongly remind me of the events happening just prior to the onset of the Great Depression, when folks had been doing basically the same buying stocks in violent frenzy. There was some rich guy back in those days, Joe Kennedy (farther of John Kennedy), who allegedly dropped his stocks after a shoeshine boy gave him advice what stocks to buy. He correctly figured that the market had become too popular to be sustainable. Although this whole story might have been invented (by the man himself), there is still substance behind it

If it can go from 1300 to 200 there's no reason it can't go from 800 to 500....
You don' need a complex analysis for that.
We have less active traders now, demand is shrinking, weaknesses of the system have been exposed for some time now and alternatives are on the rise. Hell it could even go to 50 in a matter of hours once one whale starts dumping.

Of course , we can't really never tell what may happen soon. Since there is already a history that it happens before then probably it will be. But for as long as its increasing in value now. The fall down will not happen so soon.

I do agree because if something wrong happen then all of your eggs would be broken. WE should be cautious now a days because now a days many hackers and also they can decrypt your password without your knowing so lets just be cautious no matter what happen

That's why people should be careful when investing their lifetime savings into Bitcoin

The same is fully applicable to any asset which is used primarily for speculation and profiteering (e.g. gold, stocks, whatever) or doesn't have any value of its own (e.g. fiat money), but with Bitcoin, which has basically nothing behind it, that should be obvious and straightforward without any reservations. It is not even so much about future price as about easiness and simplicity with which wealth kept in bitcoins can be lost, for example, due to theft or plain carelessness and neglect

If the price drops there, I am definetely going to buy a few more bitcoins for the purpose of buying more Moneros and also store some of btc in the bitcointrezor.  :-*

Well bitcoin price has never been stable and it keeps on fluctuating. I would it there is a chance that the price drops back to $500 in case of a dump due to some reason. But the sure thing is that the price will bounce back up after the fall as it always has.

I have some fiat waiting for the price to drop below $700.

Why is it that you are now coming to this? You have been here long enough to buy up as many coins as possible far below the $500 levels. Or maybe you have been waiting too long with buying with the result of you missing out big time, or you secured profits way too early. Either way, $500 might take a good amount of time to reach there without much negativity to impact the price in a bad way.

Also factor in the more expensive bitcoin gets the more effort hackers and thieves will direct at it....
I think a lot of people will be victim to advanced hacks when the value of btc gets to $5-10k.....
Likely an unprecedented wave of cybercrime people better get ready for

This is very true, I would hope people have already taken steps to protect their investments like I have.

only accident hack exchanger or hard dump(if hard dump must have much money) can get bitcoin price down untill reach under 500 dollar
this cristmast and new year much people can selling bitcoin, so bitcoin price can down, and then much people panic sell, so bitcoin price can much down, but not reach 500 dollar

I'm thinking the sameway, I'm gonna buy more bitcoin so if it gonna raise again its price that will be a great deal for me because I could actually make more income from doing that even it will take a lot of time its still worth it if you buy a 5 btc when it drop down to $500 because its possible it could hit and grow more than the price right now which is nearly to $800 so you can make a lot of money from doing that :)

If the price hits 500 it would be a great to stock up but there are so many people trying to invest that I doubt it will go under 700 again

i think bitcoin will be never drop its price because bitcoin is now too much powerful and stronger currency so its good time to buy bitcoin because bitcoin price will be more go to high value like as its will be get a double value in the next year so bitcoin bitcoin will be never go back to 500$ , and its right time to buy more bitcoin and then hold it for the future.

China won't let the bitcoin price decrease into this level also india they are now using bitcoin for there business thisnis why the reason why bitcoin is being trend because of the demand that india needs people will keep using bitcoin while they earn.

we know that bitcoin is very popular and useful currency i am sure bitcoin will be more rise up everyday and i do not think bitcoin down its price to 500$ again because bitcoin adoption is too much high and i hope bitcoin be double its price value in few months.

as I can see with the current price it seemed to be impossible for the bitcoin price to drop back to $500 or lower or even close amount to it but I am just depending on what I can see and I can never predict what will happen it could be possible to happen if ever there's so many people will sell their bitcoins and if that totally happen, Still I can see a positive side of that situation because I can be able to buy a huge amount of bitcoin at the lower price and it's a good opportunity to hold .

Not really increase daily bitcoin will not be that increase everyday it will be decrease somehow when bitcoin will be rise up everyday then no one will trade bitcoin into another currency and bitcoin will not that popular as of today. It will double just wait for it everything will happen in the right time.

It will more than likely not drop to this level any time soon if ever.

The signs show it just going up and not coming down this year or the next.
Maybe in 4-5 years as another thread suggests it does in that time frame.

Demand keeps the price up and is the reason the price keeps increasing without demand it does not matter if you are selling your coins or not because no one will buy them, but by having high demand then the supply matters.

Good point. The further the trend goes there are more nay sayers, who can't imagine price rising to level x (or falling to level y). If one looks at the longer-term charts of Bitcoins it is quite easy to note the huge changes in both directions. I remember many who couldn't imagine going back to $1000, saying that $1k level is for good in the back mirror. They had to eat their words shortly after, and then they were pretty much perma-bears at sub $300 levels.

Yes, though it will most likely affect ordinary people, not so much big web wallets or exchanges. This is not to say that neither of the latter can't be hacked, I just mean that the incentive to hack those is already at its maximum. If we take Bitfinex, for example, where nearly 120K bitcoins (worth about $72 million dollars back then) had been stolen, it still remains a huge amount whether bitcoins are worth $500 per coin or $1,500...

On the other hand, minor players like Bitcoin faucets may likely get massively preyed on

Its hard to say but I do not think it will happen anytime soon most likely it will even keep rising more and more to be honest.

Nothing can rise infinitely, and sooner rather than later there will be a correction. The more people are sure that something will keep rising, the closer is the correction.

That is right. The price of bitcoin rose to $1130 and dropped to $980 again.