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Assuming this growth happens in the exact 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 made a bold statement to guarantee Bitcoin believers the cryptocurrency is on the right track specifically, on track to reach the 40,000 mark. Although his prognosis for a few altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency will be as insecure as it's exciting. .

One of the popular Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the purchase price of BTC go up 40% . This season maybe Not likely. The twin stated he and his brother were taking longer prognosis, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is in fact fixed in supply so its better than infrequent it sort of equals a much better gold throughout the board. We think regardless 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 gold 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 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 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 phase, bitcoin and cryptocurrencies will be greatly affected by speculations. Even small developments in governments, traditional will likely affect costs. 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 check that or even a 10 into 20-year outlook. Though the current reality may suggest 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 instance, it's been tipped to remain the king of cryptocurrencies. Its not going to be a case of which altcoin will overtake bitcoin rather how they will impress with their special use cases. It is a fact that the technology behind bitcoin is not as 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 this process which will lead to general acceptance of cryptocurrencies will include a clean-up of useless cryptocurrencies. A fantastic number of the 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 top article are among those raising this alarm. .

The limited supply of bitcoina fixed provide 21 million BTCswill play a role in its cost; if not now, in the long run.

Many observers think that external factors 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 cost either way.

Due to the anonymity of Bitcoin transactions, it's been utilized to conduct illegal actions giving Bitcoin a general bad image. This picture, analysts think will impact its adoption and ultimately its prospects in the future.

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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 but 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 published our astonishing Bitcoin price prediction of 160,000 USD. Is this price prediction still relevant after the crypto crash This report 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, chiefly with the introduction of Bitcoin futures.