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Assuming that this expansion happens at exactly the exact 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 bold statement to guarantee Bitcoin believers that the cryptocurrency is on the right track specifically, on course 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 insecure as it is exciting. .

One of the most favorite Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the purchase price of BTC go up 40% someday. This year possibly Not likely. The twin stated he and his brother were taking longer prognosis, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is in fact fixed in distribution so its better than infrequent it sort of equals a much better gold across 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 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 color class sizeBitcoin, I think will reach $1 million per 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 would be drawn into real predictions. We observed a general trend in their own assessments.

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At this phase, bitcoin and cryptocurrencies will be greatly affected by speculations. Even little developments in governments, traditional will likely affect costs. Most say the fluctuations are normal and wouldnt affect the longer term prognosis.

Pros would prefer to make predictions within a longer period. It is more common to get bitcoin cost predictions for 2020 or a 10 into 20-year outlook. While the current reality can indicate some gloom, its worth remembering that the heights attained last year came amidst similar corrections along the way.

Though bitcoin could have a limited use case, it's been tipped to remain the king of all cryptocurrencies. Its not going to be an instance of that altcoin will overtake bitcoin rather how they'll impress with their special use cases. It's a simple fact that the technology behind bitcoin is less 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 specialists, however, see Bitcoin much more as a store wikipedia reference of value, an asset rather than a medium of transaction. .

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

The limited source of bitcoina fixed provide 21 million BTCswill play a role in its price; if not now, in the future.

Many observers think that external factors which 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 price either way.

Because of the anonymity of Bitcoin transactions, it's been used to conduct illegal activities giving Bitcoin a general bad picture. This picture, analysts think will affect its adoption and ultimately its prospects in the future.

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Crypto investments are new and super-risky. Remember ethereum founder saying that cryptos are so risky the prizes might actually fall to zero. Well, that doesnt seem sensible but the message was clear. Do not invest your life savings in bitcoin or even cryptocurrencies generally. Just like John Draper noted, you still need to purchase things 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 article includes our Bitcoin price prediction 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.