Quote from: Bergkampsballs on Today at 09:48:38 AM

I was wondering what you guys think is the most likely instances that would cause the price of bitcoin would sink back below say the $5,000 or the $10,000 mark?

In my opinion, this could either be caused by the discovery of vulnerability in the network or government policies which limits its usage.
A vulnerability while possible, is unlikely. The network has a difficulty barrier which prevents malicious attacks and limits the effects in such a situation. The network is also fully decentralized, so there is no central server or body which can be exploited and lead to a crash.

Government regulations; such as an outright ban or use of strict policies could have a huge negative impact on Bitcoin. However,
• Such a ban may need to be synchronized to have a real effect. Bitcoin currently has different legal stance in many countries, ranging from places with tight restrictions or bans to places which encourages its usage.
• The effect of a ban would likely not be long lasting, people can always move out from places with tight restrictions to more enabling environments, thereby creating an economic risk for countries which aims at stringent laws.

Overall, I would say a global consensus by governments restricting Bitcoin poses the biggest threat.

There is still one major threat which Bitcoin faces, and this comes from the community. If majority of Bitcoin users traded their autonomy and privacy for convenience by accessing it through centralized platforms, Bitcoin could become another digital fiat, losing it's unique qualities.
While this may not have an instant impact on the market, it could overtime become more significant as governments would be able to control Bitcoin effectively (freeze coins and prevent certain transactions).