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

[aardvark15]

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?

[1714670592]

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[1714670592]

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[OmegaStarScream]

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.

[tiggytomb]

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

[BitcoinHodler]

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

[jjacob]

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?

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.

[Ayers]

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

[quake313]

SegWit is currently at 22% when It comes to signalling and the chances that It's going to get activated are high

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

[AlexM]

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.

[pvaspecialist]

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.

[deisik]

possible to drop back down to $500. I 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

[European Central Bank]

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.

[Dahhi]

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

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.

[Shiroslullaby]

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.

[European Central Bank]

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.

[n0ne]

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?

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.

[cakravothy]

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

[aardvark15]

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.

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

[European Central Bank]

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.

[Greenenergy]

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$.

[lionheart78]

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.