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Assuming this growth happens at exactly the 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 whole lot about bitcoins foundation.

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Last month, Llew Classen created a daring statement to reassure Bitcoin believers that the cryptocurrency is on the right track especially, on course to reach the $40,000 mark. Though his prognosis for some altcoin holders was not so 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 that he could easily see the price of BTC go up 40% . This year maybe Not likely. The twin said he and his brother had been taking longer prognosis, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin is in fact fixed in supply therefore its better than infrequent it sort of equals a much better gold across the board. We think Irrespective of the price moves in the past 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 believe bitcoin disrupts goldHe 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 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 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 little developments in governments, traditional will likely affect prices. Most say the fluctuations are normal and wouldnt influence the longer term outlook.

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

Though bitcoin could have a restricted use instance, it has been tipped to remain the king of all cryptocurrencies. Its not going to be an instance of which altcoin will overtake bitcoin rather the way they'll impress with their special use cases. It is a simple fact that the technology behind bitcoin is less 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 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 that 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 as their worth become worthlesssome, only a fraction of cent. Brad Garlinghouse, the CEO of Ripple and Llew Claasen of right here Bitcoin Foundation are among those raising this alarm. .

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

Many observers believe that outside factors that impact the adoption of bitcoin will ultimately dictate the cost 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 has been used to conduct illegal actions giving Bitcoin a general bad image. 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 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.

This past year we released our astonishing Bitcoin price forecast of 160,000 USD. Is this price forecast still relevant after the crypto crash This article includes our Bitcoin price prediction 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, primarily with the introduction of Bitcoin futures.

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