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

[talkbitcoin]

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?

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.

[1713544029]

1713544029

[fiscorcle]

It is not looking that way right now as all signs show it going to the top.
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.

[chesatochi]

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.

[OrangeII]

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

[richardsNY]

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.

[lolikop]

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

[CoinCidental]

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

[maku]

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.

[CoinCidental]

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

[JimboToronto]

If we can go from $1200 to sub $200, then going from $770 to sub $500 is peanuts.

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.

[d@nte]

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.

[Wind_FURY]

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?

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?

[CyberKuro]

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?

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

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.

[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?

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.

[CoinCidental]

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

[deisik]

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?

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?

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

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

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

[deadsilent]

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.

[BTCLovingDude]

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?

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.

[Wowcoin]

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?

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.

[PokerFace3]

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.

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.