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Assuming that this growth happens at 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 lot about bitcoins foundation.

Last month, Llew Classen created a bold statement to reassure Bitcoin believers the cryptocurrency is on the right track specifically, on track to reach the 40,000 mark. Though his outlook for a few altcoin holders was not so encouraging, he made it clear that as something new, cryptocurrency will be as risky as it's exciting. .

One of the favorite Winkelvoss twins, Cameron Winklevoss recently said that he could readily observe the purchase price of BTC go up 40% . This season possibly Not likely. The twin stated he and his brother were taking longer prognosis, 10 to 20 decades.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin is actually fixed in supply therefore its better than scarce it sort of equals a better gold throughout the board. We think Irrespective of the price moves in the last few months, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against gold 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 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 hardly any could be drawn into actual 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 prices. Most state the fluctuations are normal and wouldnt affect the longer term outlook.

Pros would prefer to make predictions within a longer period. It is more common to have bitcoin price predictions for 2020 or a 10 to 20-year outlook. Though 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 may have a limited use case, it's been tipped to remain the king of cryptocurrencies. Its not going to be a case of that altcoin will overtake bitcoin rather how they'll impress with their special use cases. It's 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 specialists, 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 procedure that will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A good number of see post the 2000 coins will naturally go away because 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. .

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

Many observers believe that external factors 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 either way.

Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal actions giving Bitcoin a general bad image. This image, analysts believe will impact its adoption and ultimately its prospects web link 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 practical 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 things in fiat.

This past year we published our astonishing Bitcoin price forecast of 160,000 USD. Is this cost 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.