I am sure Bitcoin will reach $500 or even higher in the near future, taking into consideration the current low prices, which would hopefully prompt people to buy and drive prices up. A tead unfortunate for the folks that bought Bitcoin in November 2013 when it was $1300/BTC or about there. But there is hope. Bitcoin might go higher then $1300 each. Bitcoin to the moon! 
$500 is possible and even $1000+ and it can happen 3-5 years and up from now. But with a XT issue Im pretty sure it will take another couple of year to the suggested year. But still It will happen.