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?
I think anything may be happen in the Bitcoin , because history of rates of Bitcoin directly saying that nothing is fixed in Bitcoin price .
We already seen in the year 2013 the fall in price was unpredictable and also growth in the price was unbelievable .
So anything may happen .
it is possible the 100th time i am saying this in this board. and i say it again.
DO NOT compare bitcoin in 2016 with bitcoin in 2013.
that pump that everybody keeps referencing that caused the big and long dump is because back then MtGox had more than 70% trade volume in the whole world so they could easily manipulate bitcoin price, the whales back then were not an numerous as today.
today the biggest exchange out there with mad trade volume only has less than 13% of the world's total volume and it is decreasing (because of spread) each day eliminating chances of manipulation.