Going back to $5000?
I don't think it will go back to $5000. To many things happening at the same time causing more and more money to enter. It is a daily occurrence now that big networks like CNBC is covering bitcoin... big change from even 6 months ago. I think even the negative press is good.
I am thinking the price is going to skyrocket in the next few days:
- There is a lot of cash on the exchanges right now, everyone is waiting to buy the dip that will never happen due to the support from genuine new demand
- A lot of people want to get their coins off the exchanges before the fork & before the exchanges freeze transfers - so that they control the private keys to both sides of the fork - coins on exchanges are going to be in very short supply at the time of the fork
- If there is a significant loss of hash power blocks could take up to 50 mins - this would slow down the resupply of coins on the exchanges. The price will be jaw dropping once we are past the fork but there are no bitcoins to be found anywhere.
Sorry for all the people waiting for the dip to $2k - it ain't going to happen.
Not sure how people even think $2k is even possible anymore. By end of 2017 btc will have hit at least 10k once.