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Assuming this growth happens in exactly the same rate 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 created a daring statement to reassure Bitcoin believers that the cryptocurrency is on the right track specifically, on course to reach the 40,000 mark. Although his prognosis for a few altcoin holders was not so 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 purchase price of BTC go up 40% . This year maybe Not likely. The twin stated 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 therefore its better than infrequent it kind of equals a better gold across the board. We think regardless of the price moves in the last few weeks, its still a very underappreciated advantage.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against golden and developed a resounding conclusion. We think bitcoin disrupts gold, He 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 could 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 is going to go 100,000 and then 200,000, 500,000.   Bobby Lee/perfectpullquote

A good 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 stage, bitcoin and cryptocurrencies will be greatly affected by speculations. Even little developments in governments, traditional will probably affect prices. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Experts would prefer to make predictions over a longer period. It's more common to have 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 heights attained last year came amidst similar corrections along the way.

Though bitcoin may have a restricted 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 is a 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 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 asset rather than a medium of transaction. .

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Part of the process that will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A fantastic number of these 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 Bitcoin Foundation are among those raising this alert. . this post

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

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 price in any event.

Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal activities giving Bitcoin a general poor picture. This picture, analysts think will affect its adoption and finally its prospects in the long run.

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Crypto investments are new and super-risky. Remember ethereum founder saying that cryptos are so insecure the prizes may 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 buy stuff in fiat.

Last year we released our astonishing Bitcoin price prediction of 160,000 USD. Is this cost prediction still relevant after the crypto crash This report features our Bitcoin price 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, primarily with the introduction of Bitcoin futures.