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RE: Will Bitcoin value continue to go up?
People are way too much invested in Bitcoin to see it implode. They will do whatever it takes to get the chain to mine 90 to 95% of all coins before cashing out collectively. Perhaps they'll even push it to have all coins mined. But a short while after that a lot of people will start to sell.
If we come to the situation where 95% if not all the coins are mined, don't you think we will see the prices go really high in a very short time due to limited supply?
Yes exactly. That is what HODLers want. We all want to become rich this way. And let's face it... bitcoin will not become the main cryptocurrency that we will all collectively use to buy our everyday products in supermarkets etc. The chain is too slow and fees are too high (although they're working on improving that). BitcoinCash is already a better alternative as a bunch of others.
Let's say they lower the fees and more people start to use it. Wouldn't a higher number of transactions attract more miners making the chain faster?
Don't they need to have more miners first in order to speed up the transactions and lower the fees?
In order for it to be used in the real world they need to do something about transaction speed first. It's impossible to buy something with it in a supermarket.
Good news is that they now have segwit2 which makes the lightning network possible so perhaps we will see it happen.