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?
Maybe theres a possibility that bitcoin will drop at that price. But it has a really thin chance to happen. I saw that price when poliniex hacked and stole their customers funds. I think if that happen again. It will crashed at that price or even worst. Big whales also can be a huge impact to bitcoin when they dump their holdings. Bitcoin is really getting strong right now and no signs that bitcoin will crash. But we cant really say it will never going back to that price again because bitcoin is volatile.