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Assuming that this growth happens in exactly the same rate as the 3-year journey to $10k then were in for half an hour. 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 created 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 so encouraging, he made it crystal clear that as something new, cryptocurrency will be as risky as it's exciting. .

One of the most 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 were taking longer prognosis, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin is actually 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 months, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against golden and developed a resounding verdict. We think bitcoin disrupts gold, He 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 can see this happen in 20 years time.

Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin, I think will reach $1 million per 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 costs. Most say the fluctuations are normal and wouldnt influence the longer term outlook.

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

Though bitcoin could have a restricted use instance, it has been tipped to remain the king of all cryptocurrencies. Its not going to be a case of which altcoin will overtake bitcoin rather how they will impress with their distinctive use cases. It's a simple 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 more as a store of value, an advantage rather than a medium of transaction. .

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Part of this procedure which will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A fantastic number of these 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 supply of bitcoina fixed supply 21 million BTCswill play a part in its cost; if not now, in the long run.

Many observers believe that outside elements that 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 in any event.

Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal actions giving Bitcoin a general poor picture. This picture, analysts think 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 might actually drop to zero. Well, that doesnt seem sensible 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 buy stuff in fiat.

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