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Assuming that this expansion happens at 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 lot about bitcoins foundation.

Last month, Llew Classen made a daring statement to reassure Bitcoin believers the cryptocurrency is on the right track especially, on track to reach the 40,000 mark. Although his outlook for a few altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency will be as insecure 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 year maybe Not likely. The twin stated he and his brother had been taking longer outlook, 10 to 20 decades.

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Perfectpullquote alignfull bordertopfalse cite link colour 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 Irrespective 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 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 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 hardly any 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 likely affect costs. Most say the fluctuations are normal and wouldnt affect the longer term prognosis.

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

Though bitcoin may have a limited use instance, 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 is 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 resources. 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 of value, an advantage rather than a medium of transaction. .

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Part of the 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 as 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 alert. .

The restricted supply of bitcoina fixed supply 21 million BTCswill play a role in its price; if not now, in the long run.

Many observers think that external factors 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 price either way.

Because of the anonymity of Bitcoin transactions, it's been utilized to conduct illegal activities giving Bitcoin a general bad image. This image, analysts believe will impact its adoption and finally its prospects 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 fall his explanation to zero. Well, that doesnt seem practical 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 buy things in fiat.

This past year we published our astonishing Bitcoin cost prediction of 160,000 USD. Is this price forecast still relevant after the crypto crash This report includes our Bitcoin price forecast 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 developed as an investment vehicle, primarily with the introduction of Bitcoin futures.