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?
Yeah, we well remember how you had been claiming that folks were in denial if they expected the price to rise above $600 till the end of 2016. As it turned out, it was mainly you who were in outright denial back then. So what will your next prophecy be? Or will you refrain from prophesying altogether?
So as not to lose face again
with the latest rise any hope of ever dropping price has been crushed. and now we can only discuss whether or not price will drop back to $650+ range ever in a worse case scenario
In a worse case scenario, Bitcoin price may go down to zero (though that would be a worst case scenario)