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Assuming this expansion happens at exactly the same rate as the 3-year journey to $10k then were in for half an hour. Maniacal right Thats precisely 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 guarantee Bitcoin believers that the cryptocurrency is on the right track specifically, on track to reach the $40,000 mark. Though 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 is exciting. .

One of the favorite Winkelvoss twins, Cameron Winklevoss recently said he could easily see the price of BTC go up 40% someday. This season 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 actually fixed in distribution therefore its better than scarce it kind of equals a better gold throughout the board. We think Irrespective 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 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 reach $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 could be drawn into actual predictions. We observed a general trend in their own assessments.

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At this phase, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even small developments in governments, traditional will likely affect costs. Most say the fluctuations are normal and wouldnt affect the longer term outlook.

Pros would rather make predictions within a longer period. It's more common to get bitcoin cost predictions for 2020 or a 10 to 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 case, it has been tipped to remain the king of all cryptocurrencies. Its not going to be a case of that altcoin will overtake bitcoin rather the way they will impress with their distinctive use cases. It is a fact that the technology behind bitcoin is not as sophisticated 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 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 will include a clean-up of useless cryptocurrencies. A good number of 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 image source are among those raising this alert. .

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

Many observers think that outside 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 either way.

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

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Crypto investments are new and super-risky. Recall ethereum founder saying that cryptos are so risky 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 cryptocurrencies generally. Exactly like John Draper noted, you still need to purchase stuff in fiat.

Last year we published our astonishing Bitcoin price prediction of 160,000 USD. Is this cost prediction still relevant after the crypto crash This article features our Bitcoin price forecast for 2019. Since last year when we composed 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.