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

Last month, Llew Classen made a bold statement to reassure Bitcoin believers the cryptocurrency is on the ideal track especially, on course to reach the 40,000 mark. Though his outlook for some altcoin holders was not very encouraging, he made it clear that as something new, cryptocurrency is going to be as insecure as it is exciting. .

One of the most popular Winkelvoss twins, Cameron Winklevoss recently said he could easily see the purchase price of BTC go up 40% someday. This season maybe Not likely. The twin stated he and his brother had been taking longer prognosis, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is in fact fixed in distribution so its better than infrequent it sort of equals a better gold throughout the board. We think regardless of the price moves in the last few months, its still a very underappreciated asset.   Winklevoss /perfectpullquote

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

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 could see this happen in 20 years time.

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

A good number of analysts also have had their say though hardly any could be drawn into real predictions. We observed a general trend in their assessments.

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At this stage, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even small developments in governments, traditional will probably affect costs. Most state the fluctuations are normal and look at these guys wouldnt affect the longer term prognosis.

Experts would prefer to make predictions within a longer period. It is more common to have bitcoin price predictions for 2020 or a 10 to 20-year outlook. Though the current reality can suggest some gloom, its worth remembering that the heights achieved last year came under similar corrections along the way.

Though bitcoin may have a restricted use case, it's been tipped to remain the king of cryptocurrencies. Its not going to be a case of that altcoin will overtake bitcoin rather the way they will impress with their special use cases. It is a simple fact that the technology behind bitcoin is not as complicated when compared to many other jobs like ethereum. .

Gradually, bitcoin is being seen more as a store of value that an actual currency being compared to gold and other resources. 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 advantage rather than a medium of transaction. .

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

The restricted supply of bitcoina fixed supply 21 million BTCswill play a part in its price; if not now, in the long run.

Many observers think that external elements that affect 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 either way.

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

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Crypto investments are somewhat new and super-risky. Remember ethereum founder saying that cryptos are so risky the prizes might 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. Just like John Draper noted, you still need to purchase things in fiat.

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