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Assuming this growth happens in 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 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. Though his prognosis for a few altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency is going to be as risky as it's exciting. .

One of the most popular Winkelvoss twins, Cameron Winklevoss recently said 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 supply so its better than scarce it kind of equals a much better gold throughout the board. We think Irrespective of the price moves in the last few weeks, its still a very underappreciated advantage.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against golden and came up with a resounding conclusion. 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 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 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 good number of analysts have also had their say though very few would 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 greatly affected by speculations. Even small developments in governments, traditional will likely affect costs. Most state the fluctuations are normal and wouldnt influence the longer term prognosis.

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

Though bitcoin may have a restricted use case, it's been tipped to remain the king of all cryptocurrencies. Its not going to be a More Bonuses case of which altcoin will overtake bitcoin rather how they'll impress with their special use cases. It is a fact that the technology behind bitcoin is less click here for info 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 asset rather than a medium of transaction. .

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Part of this process 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 are among those raising this alert. .

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

Many observers believe that outside elements that impact 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 cost in any event.

Because of the anonymity of Bitcoin transactions, it has been used to conduct illegal activities giving Bitcoin a general bad image. This picture, analysts believe will impact 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 insecure the prizes might actually drop to zero. Well, that doesnt seem practical but the message was clear. Do not navigate here invest your life savings in bitcoin or even cryptocurrencies generally. Exactly like John Draper noted, you still need to buy stuff in fiat.

This past year we released our astonishing Bitcoin price forecast of 160,000 USD. Is this price prediction 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.