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Assuming this growth happens in 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 made a daring statement to guarantee Bitcoin believers the cryptocurrency is on the right track especially, on course to reach the 40,000 mark. Though his outlook for a few altcoin holders was not so encouraging, he made it clear that as something new, cryptocurrency will be as risky as it's exciting. .

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

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is actually fixed in supply so its better than infrequent it sort of equals a better gold throughout 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 weighed bitcoins prospect against golden and developed a resounding verdict. We think bitcoin disrupts goldHe 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 color class sizeBitcoin, I think will reach $1 million each bitcoinRight now its 10,000, it will go 100,000 and then 200,000, 500,000.   Bobby Lee/perfectpullquote

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

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At this phase, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even small developments in governments, traditional will likely affect prices. Most state the fluctuations are normal and wouldnt affect the longer term prognosis.

Experts would rather make predictions over a longer period. It's more common to get bitcoin price predictions for 2020 or a 10 into 20-year outlook. Though the current reality may indicate some gloom, its worth remembering that the peaks achieved last year came amidst 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 the way they will impress with their distinctive use cases. It's a fact that the technology behind bitcoin is not as complicated 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 resources. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most decision making bodies and financial experts, however, see Bitcoin much more as a this post store of value, an asset 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 fantastic 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 alarm. .

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

Many observers believe that outside factors 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 in any event.

Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal activities giving Bitcoin a general bad image. This image, analysts believe will affect its adoption and finally its prospects in the future.

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Crypto investments are new and super-risky. Recall ethereum founder saying that cryptos are so insecure the prizes may actually drop to zero. Well, that doesnt seem practical however, the message was clear. Do not invest your life savings in bitcoin or even cryptocurrencies generally. Just like John Draper noted, you still need to buy things in fiat.

This past year we published our astonishing Bitcoin price prediction 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 wrote 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.