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Assuming this growth happens in exactly the same rate 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 whole lot about bitcoins foundation.

Last month, Llew Classen made a daring statement to guarantee Bitcoin believers that the cryptocurrency is on the right track especially, on track to reach the $40,000 mark. Though his prognosis for some altcoin holders was not so encouraging, he made it crystal clear that as something new, cryptocurrency will be as risky as it's exciting. .

One of the popular Winkelvoss twins, Cameron Winklevoss recently said he could easily observe the price of BTC go up 40% . This year 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 actually 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 last few weeks, 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 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 stated bitcoin will surpass $1 million but unlike McAfee, he can see this happen in 20 years time.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin, I think will reach $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 very few could be drawn into real 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 small developments in governments, traditional will likely affect costs. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Experts would prefer to make predictions within a longer period. It's more common to have bitcoin cost predictions for 2020 or even a 10 to 20-year outlook. Though the current reality can indicate some gloom, its worth remembering that the peaks achieved last year came under similar corrections along the way.

Though bitcoin could have a limited top article use case, it has been tipped to remain the king of cryptocurrencies. Its not going to be an instance of which altcoin will overtake bitcoin rather how 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 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 specialists, however, 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 supply of bitcoina fixed supply 21 million BTCswill play a part in its cost; if not now, in the future.

Many observers believe that external elements which affect 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 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 image, analysts believe 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 risky the prizes may actually drop to zero. Well, that doesnt seem sensible however, the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Exactly 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 forecast still relevant after the crypto crash This article features 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, primarily with the introduction of Bitcoin futures.