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

[Vaskiy]

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.

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.

[Tanic]

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.

[Barbut]

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.

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.

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.

[iqlimasyadiqa]

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.

[bitbunnny]

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.

[Money Maker Shaker]

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.

[deisik]

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.

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

[Wind_FURY]

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

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.

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

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?

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.

[deisik]

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?

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

[Przemax]

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.

[pealr12]

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?

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.

[Vaccinus]

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

[geofflosophy]

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.

This.

[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.

[SheHadMANHands]

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.

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.

[mrcash02]

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.

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.

[angaper]

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.

[error08]

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.

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.

[Sundark]

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.

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.

[CoinCidental]

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