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Assuming this growth happens in the same pace 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 daring statement to guarantee Bitcoin believers that the cryptocurrency is on the ideal track specifically, on track 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 is exciting. .

One of the popular Winkelvoss twins, Cameron Winklevoss recently said that he could easily observe the price of BTC go up 40% someday. This year possibly 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 colour class sizeBitcoin is in fact fixed in supply so its better than scarce it sort of equals a better gold across 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 developed a resounding conclusion. 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 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 per bitcoinRight now its 10,000, it is going to go 100,000 and then 200,000, 500,000.   Bobby Lee/perfectpullquote

A fantastic number of analysts have also had their say though very few could be drawn into real predictions. We observed a general trend in their own 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 prices. Most state the fluctuations are normal and wouldnt influence the longer term prognosis.

Experts would prefer to make predictions over a longer period. It is more common to have bitcoin cost predictions for 2020 or even a 10 to 20-year outlook. While the current reality can indicate some gloom, its worth remembering that the heights attained 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 all cryptocurrencies. Its not going to be an instance of which altcoin will overtake bitcoin rather how they will impress with their distinctive use cases. It is a 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 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 the procedure that 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 source of bitcoina fixed supply 21 million BTCswill play a part in its cost; 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 used to conduct illegal activities giving Bitcoin a general poor picture. This image, analysts believe will impact its adoption and finally its prospects in the long run.

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Crypto investments are new and super-risky. Recall ethereum founder saying that cryptos are so risky 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 even cryptocurrencies generally. Just like John Draper noted, you still need to purchase stuff in fiat.

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