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Assuming that this expansion happens at 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 whole lot about bitcoins foundation.

Last month, Llew Classen made a daring statement to reassure Bitcoin believers that the cryptocurrency is on the ideal track specifically, on course to reach the 40,000 mark. Though his outlook for some altcoin holders was not so encouraging, he made it 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 purchase price of BTC go up 40% someday. This season 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 distribution so its better than infrequent it kind of equals a better gold throughout the board. We think regardless 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 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 colour class sizeBitcoin, I think will get to $1 million per bitcoinRight now its 10,000, it will go 100,000 and then 200,000, 500,000.   Bobby Lee/perfectpullquote

A fantastic number of analysts have also 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 costs. Most say the fluctuations are normal and wouldnt affect the longer term outlook.

Experts would rather make predictions over a longer period. It is more common their website to have bitcoin cost predictions for 2020 or even a 10 to 20-year outlook. Though the current reality can indicate some gloom, its worth remembering that the peaks achieved last year came under similar corrections along the way.

Though bitcoin may have a limited use case, it's 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's a simple fact that the technology behind bitcoin is less 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 resources. 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 asset rather than a medium of transaction. .

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Part of this process that will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A fantastic number of the 2000 coins will naturally go away because 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 alarm. .

The restricted 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 external factors which impact 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 in any event.

Because of the anonymity of Bitcoin transactions, it's been used to conduct illegal activities giving Bitcoin a general poor image. This picture, analysts believe will impact its adoption and ultimately its prospects 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 may actually fall to zero. Well, that doesnt seem practical however, the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Just like John Draper noted, you still need to buy things in fiat.

This past year we released 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 composed 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.