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

EastBirth

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Quote from: uki on December 21, 2016, 06:26:59 PM

Quote from: Viakor on December 21, 2016, 06:20:18 PM

Its hard to say but I do not think it will happen anytime soon most likely it will even keep rising more and more to be honest.

Nothing can rise infinitely, and sooner rather than later there will be a correction. The more people are sure that something will keep rising, the closer is the correction.

That is right. The price of bitcoin rose to $1130 and dropped to $980 again.

uki

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Quote from: Viakor on December 21, 2016, 06:20:18 PM

Its hard to say but I do not think it will happen anytime soon most likely it will even keep rising more and more to be honest.

Nothing can rise infinitely, and sooner rather than later there will be a correction. The more people are sure that something will keep rising, the closer is the correction.

Viakor

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Its hard to say but I do not think it will happen anytime soon most likely it will even keep rising more and more to be honest.

deisik

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Quote from: CoinCidental on December 17, 2016, 08:04:29 PM

Quote from: deisik on December 17, 2016, 10:01:44 AM

Quote from: kwukduck on December 17, 2016, 08:19:35 AM

If it can go from 1300 to 200 there's no reason it can't go from 800 to 500....
You don' need a complex analysis for that.
We have less active traders now, demand is shrinking, weaknesses of the system have been exposed for some time now and alternatives are on the rise. Hell it could even go to 50 in a matter of hours once one whale starts dumping.

That's why people should be careful when investing their lifetime savings into Bitcoin

The same is fully applicable to any asset which is used primarily for speculation and profiteering (e.g. gold, stocks, whatever) or doesn't have any value of its own (e.g. fiat money), but with Bitcoin, which has basically nothing behind it, that should be obvious and straightforward without any reservations. It is not even so much about future price as about easiness and simplicity with which wealth kept in bitcoins can be lost, for example, due to theft or plain carelessness and neglect

Also factor in the more expensive bitcoin gets the more effort hackers and thieves will direct at it....
I think a lot of people will be victim to advanced hacks when the value of btc gets to $5-10k.....
Likely an unprecedented wave of cybercrime people better get ready for

Yes, though it will most likely affect ordinary people, not so much big web wallets or exchanges. This is not to say that neither of the latter can't be hacked, I just mean that the incentive to hack those is already at its maximum. If we take Bitfinex, for example, where nearly 120K bitcoins (worth about $72 million dollars back then) had been stolen, it still remains a huge amount whether bitcoins are worth $500 per coin or $1,500...

On the other hand, minor players like Bitcoin faucets may likely get massively preyed on

uki

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Quote from: carlisle1 on December 20, 2016, 01:55:06 AM

as I can see with the current price it seemed to be impossible for the bitcoin price to drop back to $500 or lower or even close amount to it but I am just depending on what I can see and I can never predict what will happen it could be possible to happen if ever there's so many people will sell their bitcoins and if that totally happen, Still I can see a positive side of that situation because I can be able to buy a huge amount of bitcoin at the lower price and it's a good opportunity to hold .

Good point. The further the trend goes there are more nay sayers, who can't imagine price rising to level x (or falling to level y). If one looks at the longer-term charts of Bitcoins it is quite easy to note the huge changes in both directions. I remember many who couldn't imagine going back to $1000, saying that $1k level is for good in the back mirror. They had to eat their words shortly after, and then they were pretty much perma-bears at sub $300 levels.

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Quote from: DrGuns4Hands on December 16, 2016, 10:59:37 PM

if you could see the graph of bitcoin its possible it could drop back down to $500 i think its because theres a lot of users that cashing out their money from bitcoin wallet so its one of the reason why bitcoin price suddenly dropping down . but if we could maintain our money on our bitcoin wallet maybe thats a good chance to prevent this to happen.

Demand keeps the price up and is the reason the price keeps increasing without demand it does not matter if you are selling your coins or not because no one will buy them, but by having high demand then the supply matters.

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It will more than likely not drop to this level any time soon if ever.

The signs show it just going up and not coming down this year or the next.
Maybe in 4-5 years as another thread suggests it does in that time frame.

MWesterweele

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Quote from: lakisis on December 19, 2016, 05:23:14 PM

we know that bitcoin is very popular and useful currency i am sure bitcoin will be more rise up everyday and i do not think bitcoin down its price to 500$ again because bitcoin adoption is too much high and i hope bitcoin be double its price value in few months.

Not really increase daily bitcoin will not be that increase everyday it will be decrease somehow when bitcoin will be rise up everyday then no one will trade bitcoin into another currency and bitcoin will not that popular as of today. It will double just wait for it everything will happen in the right time.

carlisle1

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as I can see with the current price it seemed to be impossible for the bitcoin price to drop back to $500 or lower or even close amount to it but I am just depending on what I can see and I can never predict what will happen it could be possible to happen if ever there's so many people will sell their bitcoins and if that totally happen, Still I can see a positive side of that situation because I can be able to buy a huge amount of bitcoin at the lower price and it's a good opportunity to hold .

lakisis

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we know that bitcoin is very popular and useful currency i am sure bitcoin will be more rise up everyday and i do not think bitcoin down its price to 500$ again because bitcoin adoption is too much high and i hope bitcoin be double its price value in few months.

MWesterweele

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Quote from: traderethereum on December 14, 2016, 06:34:02 PM

Quote from: MWesterweele on December 12, 2016, 12:10:40 PM

Quote from: aardvark15 on December 01, 2016, 11:18:39 AM

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.

China won't let the bitcoin price decrease into this level also india they are now using bitcoin for there business thisnis why the reason why bitcoin is being trend because of the demand that india needs people will keep using bitcoin while they earn.

Ewinsane

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i think bitcoin will be never drop its price because bitcoin is now too much powerful and stronger currency so its good time to buy bitcoin because bitcoin price will be more go to high value like as its will be get a double value in the next year so bitcoin bitcoin will be never go back to 500$ , and its right time to buy more bitcoin and then hold it for the future.

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Quote from: Noctis Connor on December 18, 2016, 02:16:21 AM

Quote from: TrueCryptonaire on December 17, 2016, 10:08:10 AM

If the price drops there, I am definetely going to buy a few more bitcoins for the purpose of buying more Moneros and also store some of btc in the bitcointrezor. Kiss

I'm thinking the sameway, I'm gonna buy more bitcoin so if it gonna raise again its price that will be a great deal for me because I could actually make more income from doing that even it will take a lot of time its still worth it if you buy a 5 btc when it drop down to $500 because its possible it could hit and grow more than the price right now which is nearly to $800 so you can make a lot of money from doing that

If the price hits 500 it would be a great to stock up but there are so many people trying to invest that I doubt it will go under 700 again

Noctis Connor

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Quote from: TrueCryptonaire on December 17, 2016, 10:08:10 AM

If the price drops there, I am definetely going to buy a few more bitcoins for the purpose of buying more Moneros and also store some of btc in the bitcointrezor. Kiss

I'm thinking the sameway, I'm gonna buy more bitcoin so if it gonna raise again its price that will be a great deal for me because I could actually make more income from doing that even it will take a lot of time its still worth it if you buy a 5 btc when it drop down to $500 because its possible it could hit and grow more than the price right now which is nearly to $800 so you can make a lot of money from doing that

cakravothy

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only accident hack exchanger or hard dump(if hard dump must have much money) can get bitcoin price down untill reach under 500 dollar
this cristmast and new year much people can selling bitcoin, so bitcoin price can down, and then much people panic sell, so bitcoin price can much down, but not reach 500 dollar

quake313

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Quote from: CoinCidental on December 17, 2016, 08:04:29 PM

Quote from: deisik on December 17, 2016, 10:01:44 AM

Quote from: kwukduck on December 17, 2016, 08:19:35 AM

If it can go from 1300 to 200 there's no reason it can't go from 800 to 500....
You don' need a complex analysis for that.
We have less active traders now, demand is shrinking, weaknesses of the system have been exposed for some time now and alternatives are on the rise. Hell it could even go to 50 in a matter of hours once one whale starts dumping.

That's why people should be careful when investing their lifetime savings into Bitcoin

The same is fully applicable to any asset which is used primarily for speculation and profiteering (e.g. gold, stocks, whatever) or doesn't have any value of its own (e.g. fiat money), but with Bitcoin, which has basically nothing behind it, that should be obvious and straightforward without any reservations. It is not even so much about future price as about easiness and simplicity with which wealth kept in bitcoins can be lost, for example, due to theft or plain carelessness and neglect

Also factor in the more expensive bitcoin gets the more effort hackers and thieves will direct at it....
I think a lot of people will be victim to advanced hacks when the value of btc gets to $5-10k.....
Likely an unprecedented wave of cybercrime people better get ready for

This is very true, I would hope people have already taken steps to protect their investments like I have.

CoinCidental

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Quote from: deisik on December 17, 2016, 10:01:44 AM

Quote from: kwukduck on December 17, 2016, 08:19:35 AM

If it can go from 1300 to 200 there's no reason it can't go from 800 to 500....
You don' need a complex analysis for that.
We have less active traders now, demand is shrinking, weaknesses of the system have been exposed for some time now and alternatives are on the rise. Hell it could even go to 50 in a matter of hours once one whale starts dumping.

That's why people should be careful when investing their lifetime savings into Bitcoin

The same is fully applicable to any asset which is used primarily for speculation and profiteering (e.g. gold, stocks, whatever) or doesn't have any value of its own (e.g. fiat money), but with Bitcoin, which has basically nothing behind it, that should be obvious and straightforward without any reservations. It is not even so much about future price as about easiness and simplicity with which wealth kept in bitcoins can be lost, for example, due to theft or plain carelessness and neglect

Also factor in the more expensive bitcoin gets the more effort hackers and thieves will direct at it....
I think a lot of people will be victim to advanced hacks when the value of btc gets to $5-10k.....
Likely an unprecedented wave of cybercrime people better get ready for

richardsNY

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Quote from: TrueCryptonaire on December 17, 2016, 10:08:10 AM

If the price drops there, I am definetely going to buy a few more bitcoins for the purpose of buying more Moneros and also store some of btc in the bitcointrezor. Kiss

Why is it that you are now coming to this? You have been here long enough to buy up as many coins as possible far below the $500 levels. Or maybe you have been waiting too long with buying with the result of you missing out big time, or you secured profits way too early. Either way, $500 might take a good amount of time to reach there without much negativity to impact the price in a bad way.

EastBirth

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Quote from: TrueCryptonaire on December 17, 2016, 10:08:10 AM

If the price drops there, I am definetely going to buy a few more bitcoins for the purpose of buying more Moneros and also store some of btc in the bitcointrezor. Kiss

I have some fiat waiting for the price to drop below $700.

butcherboss

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Well bitcoin price has never been stable and it keeps on fluctuating. I would it there is a chance that the price drops back to $500 in case of a dump due to some reason. But the sure thing is that the price will bounce back up after the fall as it always has.

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