Pls don't misunderstand, just an assumption: if Bitcoin were to reach $500 again today, do you think people would still be willing to buy?
In my opinion, it would have two implications. Firstly, it would likely have ruined many people's investments and life savings, considering those who bought in at $10k, $20k, or even $100k.
Secondly, it would reinforce the skepticism of those who don't trust digital currencies due to their perceived unreliability. So, if it happens, would you still buy it?
Anything that would drive the price of bitcoin down to as low as $500 have succeeded in killing bitcoin, I won't be buying because what this simply means is that the price is gong to zero and there is no two ways about it..
As much we still try to as much as possible be careful with our investments in digital currencies, Bitcoin is the most successful when it comes to digital currencies, and it is not out of place or an exaggeration when I say that Bitcoin has grown past the point where it could fail, and what this means is that the current bitcoin can never go as low as not even $10,000 from where it currently is, if this happens, then it means the end of the cryptocurrency.