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Assuming this growth happens at exactly the exact same pace 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 whole lot about bitcoins foundation.

Last month, Llew Classen made a bold statement to reassure Bitcoin believers the cryptocurrency is on the ideal track specifically, on track to reach the $40,000 mark. Although his prognosis for a few altcoin holders was not so encouraging, he made it clear that as something new, cryptocurrency is going to be as insecure as it's exciting. .

One of the most favorite Winkelvoss twins, Cameron Winklevoss recently said he could easily observe the price of BTC go up 40% someday. This year maybe 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 distribution therefore its better than infrequent it sort of equals a much better gold across 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 believed bitcoins prospect against gold and developed a resounding verdict. We think bitcoin disrupts goldHe said.

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 could see this happen in 20 years time.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin, I think will get to $1 million each bitcoinRight now its 10,000, it will go 100,000 and then 200,000, 500,000.   Bobby Lee/perfectpullquote

A fantastic number of analysts also have 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 significantly influenced by speculations. Even little developments in governments, traditional will likely affect prices. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Pros would rather make predictions within a longer period. It is more common to have bitcoin price predictions for 2020 or even a 10 into 20-year outlook. Though the current reality can indicate 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 case, it's 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'll impress with their distinctive use cases. It is a fact that the technology behind bitcoin is not as 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 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 this process which 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 straight from the source become worthlesssome, only a fraction of cent. Brad Garlinghouse, the CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those raising this alarm. .

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

Many observers think that outside factors 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 cost in any event.

Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal actions giving Bitcoin a general bad picture. This image, analysts believe will impact its adoption and finally its prospects in the future.

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Crypto investments are new and super-risky. Remember ethereum founder saying that cryptos are so insecure the prizes may actually drop to zero. Well, that doesnt seem practical however, the message was clear. Do not invest your life savings in bitcoin or even cryptocurrencies generally. Exactly like John Draper noted, you still need to purchase stuff in fiat.

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