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Assuming this expansion happens in 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 whole lot about bitcoins foundation.

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Last month, Llew Classen made 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 some altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency is going to be as risky as it is exciting. .

One of the most popular Winkelvoss twins, Cameron Winklevoss recently said that he could readily see the price of BTC go up 40% someday. This season possibly Not likely. The twin said he and his brother were taking longer outlook, 10 to 20 decades.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBitcoin is actually fixed in supply therefore 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 weeks, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against golden and came up with a resounding verdict. We think bitcoin disrupts gold, He explained.

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 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 assessments.

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At this stage, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even small developments in governments, traditional will likely affect costs. Most state the fluctuations are normal and wouldnt affect the longer term outlook.

Pros would rather make predictions over a longer period. It is more common to have bitcoin cost predictions for 2020 or a 10 into 20-year outlook. Though the current reality can indicate some gloom, its worth remembering that the peaks achieved last year came under similar corrections along the way.

Though bitcoin may have a restricted use instance, it's been tipped to remain the king of cryptocurrencies. Its not going to be a case of which altcoin will overtake bitcoin rather how they'll impress with their distinctive use cases. It's a simple fact that the technology behind bitcoin is not as 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 assets. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most decision making bodies and financial experts, however, see Bitcoin much more as a store of value, an asset rather than a medium of transaction. .

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Part of the process that will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A good number of the 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 alert. .

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

Many observers believe that outside factors 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 price either way.

Because of the anonymity of Bitcoin transactions, it's been used to conduct illegal activities giving Bitcoin a general poor picture. 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 so insecure the prizes might actually drop 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 prediction still relevant after the crypto crash This article includes our Bitcoin price forecast for 2019. Since last year when weblink we composed 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.

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