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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 lot about bitcoins foundation.

Last month, Llew Classen created a bold statement to reassure Bitcoin believers the cryptocurrency is on the right track especially, on course to reach the 40,000 mark. Although his prognosis for a few altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency will be as risky as it is exciting. .

One of the most favorite Winkelvoss twins, Cameron Winklevoss recently said that he could easily 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 color class sizeBitcoin is in fact fixed in distribution therefore its better than scarce it sort 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 gold and developed a resounding verdict. 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 stated 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 each 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 greatly affected by speculations. Even little developments in governments, traditional will probably affect prices. Most state the fluctuations are normal and wouldnt affect the longer term prognosis.

Experts would rather make predictions within a longer period. It is more common to have bitcoin cost predictions for 2020 or a 10 into 20-year outlook. While the current reality can suggest some gloom, its worth remembering that the heights achieved 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 a case of that 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 not as 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 experts, 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 these 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 source of bitcoina fixed supply 21 million BTCswill play a part in its cost; if not now, in the future.

Many observers believe 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 price in any event.

Because of the anonymity of Bitcoin transactions, it's been used to conduct illegal activities giving Bitcoin a general poor picture. other This image, analysts think will impact its adoption and finally its prospects wikipedia reference in the long run.

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Crypto investments are somewhat new and super-risky. Recall ethereum founder saying that cryptos are so risky the prizes may actually drop to zero. Well, that doesnt seem sensible 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 buy 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 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 matured as an investment vehicle, primarily with the introduction of Bitcoin futures.