Will the Bitcoin price ever drop back down to $500?

[0xfff]

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. 

[MWesterweele]

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?

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.

[wxa7115]

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.

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.

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.

[angaper]

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.

[Dmitry.Vastov]

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?

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.

[icecube45]

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.

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.

[BitcoinHodler]

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.

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.

[pereira4]

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.

[CoinCidental]

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 !

[The-Accountant]

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.

[BitcoinPanther]

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.

[traderethereum]

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?

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.

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.

[deisik]

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

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

[sanakhan1]

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

[CoinCidental]

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

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

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 ..........

[quake313]

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

Like WuTang Financial, Diversify nigga!

[Invulner]

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?

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.

[Herbert2020]

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?

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.

[michkima]

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.

[zoose]

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