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Assuming that this growth happens at exactly the same rate as the 3-year journey to $10k then were in for six digits. 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 bold statement to guarantee Bitcoin believers that the cryptocurrency is on the ideal track especially, on course to reach the $40,000 mark. Although his outlook for some altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency will be as risky as it's exciting. .

One of the favorite Winkelvoss twins, Cameron Winklevoss recently said that he could readily 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 colour class sizeBitcoin is in fact fixed in supply so its better than scarce it kind of equals a better gold throughout the board. We think regardless of the price moves in the past few weeks, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against golden and came up with a resounding verdict. We believe bitcoin disrupts goldHe explained.

Bobby Lee, CEO of Chinas first Bitcoin exchange speaking at the London Blockchain Week went overboard with his prediction. Lee stated 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 reach $1 million per bitcoinRight now its 10,000, it will 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 could be drawn into actual predictions. We observed a general trend in their own assessments.

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At this stage, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even little developments in governments, traditional will probably affect costs. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Pros would prefer to make predictions within a longer period. It's special info more common to have bitcoin price predictions for 2020 or even a 10 into 20-year outlook. Though the current reality can indicate some gloom, its worth remembering that the peaks attained last year came under similar corrections along the way.

Though bitcoin could have a limited use case, it has been tipped to remain the king of cryptocurrencies. Its not going to be a case of which altcoin will overtake bitcoin rather how they will impress with their special use cases. It is a fact that the technology behind bitcoin is not here as 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 experts, but see Bitcoin much more as a store of value, an advantage rather than a medium of transaction. .

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Part of the process which will lead to general acceptance of cryptocurrencies will include a clean-up of useless cryptocurrencies. A good number of these 2000 coins will naturally go away because 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 limited supply of bitcoina fixed provide 21 million BTCswill play a role in its price; if not now, in the long run.

Many observers believe that external elements which 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 cost either way.

Due to the anonymity of Bitcoin transactions, it's been utilized to conduct illegal activities giving Bitcoin a general bad image. 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 insecure the prizes might actually fall to zero. Well, that doesnt seem practical however, the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Exactly like John Draper noted, you still need to buy stuff in fiat.

This past year we published our astonishing Bitcoin cost forecast of 160,000 USD. Is this cost forecast still relevant after the crypto crash This report includes 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 developed as an investment vehicle, chiefly with the introduction of Bitcoin futures.