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?
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?