Ask HN: What is the long term outlook on Bitcoin right now?
I have seen many negative observations on HN through the years. I am curious if some think it will crash soon or keep growing. Is it overhyped and destined to fail or is it sustainable and promising?
2 comments
[ 1.6 ms ] story [ 13.3 ms ] threadIf it survives another 10 years, will probably reach parity with value of all global gold holdings. This would put price per coin at somewhere around $150K.
There is a real (but decreasing with time) chance that Bitcoin will fall to near $0 - from extreme regulatory pressure, a security flaw in core protocol, or a clearly superior cryptocurrency taking market share.
Will be very interesting to see what happens if it breaks above $150K. At that point, the bubble starts to be 'nation-state' sized, and has the potential to cause a global recession as it sucks value out of other asset classes. Seems implausible, but never say never with Bitcoin. For the past 5 years I've been saying "Someday bitcoin might hit $10K!", and it arrived much sooner than I expected.