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Assuming that this growth happens at exactly the same pace as the 3-year journey to $10k then were in for half an hour. Maniacal right Thats precisely how Draper feels about Bitcoin prospects. Now onto someone who understands a lot about bitcoins foundation.

Last month, Llew Classen created a daring statement to guarantee Bitcoin believers that the cryptocurrency is on the ideal track specifically, on course to reach the $40,000 mark. Though his outlook for a few altcoin holders was not very encouraging, he made it clear that as something new, cryptocurrency is going to be as risky as it's exciting. .

One of the favorite Winkelvoss twins, Cameron Winklevoss recently said he could easily see the purchase price of BTC go up 40% . This year possibly Not likely. The twin stated he and his brother had been taking longer outlook, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is actually fixed in distribution so its better than scarce it kind of equals a much better gold across the board. We think Irrespective of the price moves in the last few weeks, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against gold and came up with a resounding conclusion. We think bitcoin disrupts gold, He said.

Bobby Lee, CEO of Chinas first Bitcoin exchange speaking at the London Blockchain Week went overboard with his prediction. Lee said bitcoin will surpass $1 million but unlike McAfee, he can see this happen in 20 years time.

Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin, I think will get to $1 million per bitcoinRight now its 10,000, it is going to go 100,000 and then 200,000, 500,000.   Bobby Lee/perfectpullquote

A fantastic number of analysts also have had their say though very few would be drawn into real predictions. We observed a general trend in their assessments.

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At this phase, bitcoin and cryptocurrencies will be greatly affected by speculations. Even small developments in governments, traditional will likely affect costs. Most say the fluctuations are normal and wouldnt affect the longer term prognosis.

Experts would rather make predictions over a longer period. It is more common to get bitcoin cost predictions for 2020 or a 10 to 20-year outlook. While the current reality can indicate some gloom, its worth remembering that the heights attained last year came amidst similar corrections along the way.

Though bitcoin may have a restricted use instance, it has been tipped to remain the king of all cryptocurrencies. Its not going to be a case of which altcoin will overtake bitcoin rather how they'll impress with their special use cases. It is a simple fact that the technology behind bitcoin is less sophisticated when compared to many other projects like ethereum. .

Gradually, bitcoin is being seen more as a store of value that an actual currency being compared to gold and other assets. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most decision making bodies and financial specialists, however, see Bitcoin much more as a store of value, an asset rather than a medium of transaction. .

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Part of this procedure which will lead to general acceptance of cryptocurrencies will include a clean-up of useless cryptocurrencies. A good number of the 2000 coins will naturally go away because their worth become worthlesssome, only a fraction of cent. Brad Garlinghouse, the CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those raising this alarm. .

The limited supply of bitcoina fixed supply 21 million BTCswill play a role in its price; if not now, in the future.

Many observers believe that outside elements that impact the adoption of bitcoin will ultimately dictate the price in the short term. The creation and performance of futures markets, for instance, is expected to tilt the price in any event.

Because of the anonymity of Bitcoin transactions, it's been utilized link to conduct illegal activities giving Bitcoin a general poor picture. This image, analysts think will affect its adoption and ultimately its prospects in the long run.

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Crypto investments are new and super-risky. Recall ethereum founder saying that cryptos are so risky the prizes may actually fall to zero. Well, that doesnt seem sensible but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Exactly like John Draper noted, you still need to purchase stuff in fiat.

Last year we published our astonishing Bitcoin price forecast of 160,000 USD. Is this price prediction still relevant after the crypto crash This report features our Bitcoin price prediction for 2019. Since last year when we wrote our $160,000 prediction for Bitcoin really many things changed in crypto land. First and foremost, Bitcoin has matured as an investment vehicle, chiefly with the introduction of Bitcoin futures.