

Ask HN: Will the Price of Bitcoins and Alts Skyrocket Again? - cdvonstinkpot

Hi,<p>I miss the days of $1k BTC &amp; $15 LTC. I&#x27;m here wondering out loud if people think there&#x27;ll be another rally like Thanksgiving a couple years ago. What do you think might cause another bull run? Or do you expect the bear conditions to continue?
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MichaelCrawford
I don't know about a rally.

But there is a specific maximum number of bitcoins. At the same time, they are
becoming more accepted by traditional merchants. Perhaps the day will come
when everyone uses bitcoin.

Given that, I have no doubt that the value of one bitcoin will steadily
increase.

We are a long way from that maximum number, but my understanding is that it is
getting harder and harder to mine each coin as time goes by. That is, if you
mine one coin today, it will be somewhat more difficult for me to mine another
coin tomorrow.

If that's really the case, then the value of bitcoin should grow quite a lot
faster, as well as long before we reach the maximum number of coins.

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onion2k
I doubt it.

The reason BTC rallied to $1000 was that people speculated that it was
undervalued, so it'd keep going up, which made them believe there was profit
in it at anything below the possible future value. That speculation was
largely due to it being such an unknown quantity. BTC, and cryptocurrency in
general, has too many people looking at it for that to happen again, at least
in the spectacular way it happened before.

