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Sure I understand that. For BTC at least I am not sure I agree the rally will last as long as the stock market rally. I think we'll probably see a decent amount
by brentm 9y ago
Sure I understand that. For BTC at least I am not sure I agree the rally will last as long as the stock market rally. I think we'll probably see a decent amount of selling in January when the gains are moved forward to the new tax year.
Litecoin is another animal. I think we'll continue to see a lot of what we're seeing now. People seeing a low price (compared to btc), sad they missed out on cheap BTC and dreaming this one is going to $15k.
- matte_black 9y agoSeeing as how dreamers are basically the only reason Bitcoin rose to $20k, I see no reason why the trend wouldn't replay itself with Litecoin. Great time to buy IMO.
- brentm 9y agoWell one thing is Litecoin has a much larger supply (3.24x according to Coincap). In terms of market cap & supply as of today a $15k Litecoin is equivalent to ~$50k Bitcoin. The market cap of Litecoin alone would be 0.84 Trillion. It's possible I suppose but I think you'd need some pretty serious institutional buying (or gaming of the system which only lasts so long).
- matte_black 9y agoI think that would put a price target of Litecoin at somewhere around $4000-$5000. Not bad considering it's current price today.
- Frogolocalypse 9y agoUntil people actually run nodes to the same distribution of bitcoin, it will always be a reduced security option, and therefore won't command the same price.
- matte_black 9y agoThe price commanded is whatever the maximum you can get away with selling it to a fool would be, distribution be damned.
- Frogolocalypse 9y agoThe bitcoin price isn't controlled. Supply and demand.