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Assuming that this growth happens in exactly the exact same rate as the 3-year journey to $10k then were in for six digits. Maniacal right Thats precisely 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 the cryptocurrency is on the ideal track specifically, on track to reach the $40,000 mark. Although 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 most favorite Winkelvoss twins, Cameron Winklevoss recently said that he could readily observe the price of BTC go up 40% someday. This year maybe Not likely. The twin said he and his brother were taking longer outlook, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin is actually fixed in supply so its better than scarce it kind 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 came up with a resounding verdict. We think 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 also have had their say though very few could 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 little developments in governments, traditional will likely affect prices. Most state the fluctuations are normal and wouldnt influence the longer term outlook.

Pros would rather make predictions within a longer period. It is more common to get bitcoin price predictions for 2020 or a 10 into 20-year outlook. Though 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 restricted use case, it has 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 special use cases. It's a fact that the technology behind bitcoin is less complicated 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 experts, however, see Bitcoin more as a store of value, an asset rather than a medium of transaction. .

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Part of this procedure which will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A fantastic number of these 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 alarm. .

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

Many observers believe that external elements that 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 cost in any event.

Due to the anonymity of Bitcoin transactions, it has been used to conduct illegal actions giving Bitcoin a general poor image. This image, analysts believe will impact its adoption and finally its prospects in the future.

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Crypto investments are somewhat new and super-risky. Remember ethereum founder saying that cryptos are i loved this so insecure the prizes might actually fall 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 stuff in fiat.

This past year we released our astonishing Bitcoin cost prediction of 160,000 USD. Is this cost prediction still relevant after the crypto crash This report features our Bitcoin price forecast for 2019. see it here 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, chiefly with the introduction of Bitcoin futures.