Topic: bitcoin back to $500 is likeley - page 14. (Read 2998 times)

Those days were not that long ago when you could buy bitcoin for 500 and that is why some people think those days have the possibility to come back but the market of cryptocurrencies can change very abruptly and in my opinion this is one of those cases, the market is never going to see a price of bitcoin that low and those that ask for it will not have the guts to invest at that price anyway.

I think this is so far to happen, if this happen all cryptoworld will end just read the news. Insted predicting the end of bitcoin just support this digital currency for all of us.

Very interesting. Can you tell us how do you come to such conclusions? Any basis on your thought?

This is going to be TRUE as far as I know.

No no and once again no, this will not happen, you just imagine what uncles have bitcoins in their purse and what amount of money they think they will just let the bitcoin be drained to 1 K, I doubt very much.

i am not going to argue about whether 500-700 is possible or not with you. But your comment about crypto collapsing because it costs 5k to mine a btc just displays a fundamental lack of understanding.( not make an attack against you want to help clear things up)

You see the cost to mine a btc is not fixed to a USD value. It is dependent on how many miners are actively competing with each other (through their hash power) to try and find a block.
In times of a bull run when the price of btc increases exponentially, the profitability of mining also increases, as aresult you have a lot of new enterants in the space setting up rigs and farms, all this to say that the increased competition and more hash power being used to find a  block means that a difficulty adjustment takes place(every 2016 blocks) and the end result of this is that the cost to mine a Bitcoin eventually goes up. this increased mining cost however is not fixed in stone. People have been mining btc all the way back to a few cents.

Now lets examine the bear market scenario. In this case as the price keeps on dropping miners would eventually find that profit margins are now rapidly decreasing, as the price now slowly approaches their mining cost.
This happens because the difficulty of mining is still the same owing to the last difficulty adjustment upwards. As a result of this lower profitability many of the smaller miners or less efficient miners (who do not benefit from economies of scale/or are mining in countries that have higher power costs) will now probably have to shut down their operations completely because they suddenly find them selves losing a large chunk of money.
Now this eventually would mean lower hash power is being used to mine blocks and a smaller number of miners( only the large ones) are now still actively trying to find blocks. This lower overall hash power and competitiveness would eventually trigger another difficulty adjustment downwards, thereby reducing the costs associated with mining a bitcoin.

So while it may cost 5000$ to mine a btc today, it could easily cost only 3000$ after the next difficulty adjustment, and maybe even go back to 500-800$ after that one and so on and so on.
Again that's not to say that this will mean cryptos will collapse if this happens and technically and fundamentally this is a perfectly acceptable scenario.

Well its always difficult to make a call like this but yea thoeretically anything is possible.
In my Opinion it  will most likely go to between 2k-3.5k which is about 2-3x over the high from 2014. Though a full retrace back to about 500-700 is also possible and has indeed happened before in previous cycles as well.

Chart wise of course the trendline starting from 2.5 k or so has already been broken and the new trendline now goes back to about 700-800$, so this could be a possible target.

I mean in 2017 almost all the bullish calls on bitcoin did get hit, even the 15k-20k targets which was always on the extreme/ more bullish side. So looking at that it is perfectly fathomable to expect that in 2018 all the bear target get hit as well even if the  500-700 target is on the more extreme bearish side.

That can't be possible except the whole crypto currency is about to collapse.  It cost around $5000 to mine 1 btc. Say the price will go to $500 it's technically and fundamentally not a possibility.

Nothing is impossible but 500 would be way too low. And bitcoin's following even with all that's being thrown at it, still is something to be positive about especially for the long term.

OP  must be a bitcoin hater and want it to drag so much that it is not believable anymore. $500 is too far from $6k and if it would happen, it would be a slow decrease from point to point in every year.  But I know that it will not go down for sure because the current decrease of btc is always a preparation for a bigger thing.

500 USD seems extremely unlikely, pick it up if it ever drops below 4k USD, it might be the easiest money you ever make.

Realistically, a lot of hedge funds and institutional cash entered at these levels last year, it would be a very unusual development

and a huge opportunity to load up if BTC ever drops below 5k USD again...

well well
time to talk much
if btc going to "Moto Z2 Play" price
i will sell my grand father house to buy BTC as well
of course Eth too
i dont think eth will strong after btc fall to $500
LMFAO

I think this is impossible to achieve. Bitcoin to this price cryptocurrency failed. You are a crazy person.

Its too much drop if its really going to $500 each and it does not make sense to me because the supporter still strong.
Actully i dont believe with such correction. Now even the price is going stronger although its not reaching its ATH but at least its stronger.

your prediction is very far from reality, if you see the price today you can look that bitcoin price is playing around 6k and never been hit 5k for this year so it is impossible to happen the floor price is 6700 dollar it will never dip -6000 from today's market.

such a price will not be good for large miners and big players because they are main players on the market.  I think that btc can return to $3000 before the end of 2018.

I do not think this will every happen to bitcoin because if it does, then most altcoin will be back to zero. Bitcoin has gained so many popularity and as long as more people are buying the coin, I do not think it will break that level.

Such a fall is impossible under any circumstances. He has tremendous support and prospects in the future.  I wonder where you got  such forecasts, even the chart tells us that such prices were when the whole market was just born and there was not such a variety.

I don't think so. If you are good with technical analysis of the charts then have a closer look at BTC chart. Recently it is at its one of best support level. I don't tell that it will not break that level. But even if it breaks that level then you will see another strong support level around at $5000 level. But, if the BTC falls to that level then the investors will come to the market and it will go much higher in very short time.

I do not think there is any chance of bitcoin going down that low. With a booming ICO market, there is plenty of money flowing into the crypto sector for such a crash to happen.