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Assuming that this expansion happens at the exact same rate as the 3-year journey to $10k then were in for six digits. Maniacal right Thats exactly 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 reassure Bitcoin believers that the cryptocurrency is on the right track especially, on course to reach the 40,000 mark. Though his outlook for some altcoin holders was not so encouraging, he made it crystal clear that as something new, cryptocurrency is going to be as insecure as it's exciting. .

One of the most favorite Winkelvoss twins, Cameron Winklevoss recently said that he could readily observe the price of BTC go up 40% someday. This season possibly Not likely. The twin said he and his brother had been taking longer outlook, 10 to 20 decades.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin is in fact fixed in supply therefore its better than scarce it sort of equals a much better gold throughout the board. We think regardless of the price moves in the past few weeks, its still a very underappreciated advantage.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against golden and developed a resounding verdict. 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 color class sizeBitcoin, I think will get to $1 million per 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 very few would be drawn into actual predictions. We observed a general trend in their assessments.

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At this stage, bitcoin and cryptocurrencies will be greatly affected 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.

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

Though bitcoin may have a limited use case, it's been tipped to remain the king of cryptocurrencies. Its not going to be an instance of which 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 less 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, but see Bitcoin more as a store of value, an advantage rather than a medium of transaction. .

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Part of the procedure that will lead to general acceptance of cryptocurrencies 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 restricted source of bitcoina fixed supply 21 million BTCswill play a role in its price; if not now, in the future.

Many observers think that external 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 price in any event.

Because of the anonymity of Bitcoin transactions, it has been used to conduct illegal actions giving Bitcoin a general poor picture. This picture, 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 drop to zero. Well, that doesnt seem sensible however, the message was clear. Do not invest your life this content savings in bitcoin or even cryptocurrencies generally. Just like John Draper noted, you still need to buy stuff in fiat.

Last year we published our astonishing Bitcoin price forecast of 160,000 USD. Is this cost forecast still relevant after the crypto crash This article features our Bitcoin price prediction for 2019. Since last year when we composed our 160,000 prediction 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.