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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 exactly how Draper feels about Bitcoin prospects. Now onto someone who understands a lot about bitcoins foundation.

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

One of the popular Winkelvoss twins, Cameron Winklevoss recently said he could readily observe the price of BTC go up 40% . This year possibly Not likely. The twin said he and his brother had been 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 therefore its better than scarce it kind of equals a better gold throughout the board. We think regardless of the price moves in the past few weeks, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against golden 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 can 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 good number of analysts also have had their say though very few would 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 little developments in governments, traditional will probably affect prices. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Pros would prefer to make predictions over a longer period. It's more common to get bitcoin cost predictions for 2020 or a 10 to 20-year outlook. While 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 restricted use case, it has been tipped to remain the king of all cryptocurrencies. Its not going to be an instance of that altcoin will overtake bitcoin rather the way they'll impress with their special use cases. It is a fact that the technology behind bitcoin is less sophisticated 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 specialists, but see Bitcoin much more as a store of value, an advantage 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 good number of the 2000 coins will naturally go away as 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 source of bitcoina fixed supply 21 million BTCswill play a role in its price; if not now, in the long run.

Many observers think 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 cost in any event.

Due to the anonymity of Bitcoin transactions, it has been utilized to conduct illegal actions giving Bitcoin a general bad image. This picture, 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 insecure the prizes may 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 additional reading John Draper noted, you still need to buy things in fiat.

Last year we published our astonishing Bitcoin price forecast of 160,000 USD. Is this cost forecast still relevant after the crypto crash This report features our Bitcoin price prediction 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 developed as an investment vehicle, chiefly with the introduction of Bitcoin futures.