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Assuming that this growth happens at the exact 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 guarantee Bitcoin believers that the cryptocurrency is on the right track specifically, on course to reach the 40,000 mark. Although his prognosis for some altcoin holders was not very encouraging, he made it clear that as something new, cryptocurrency is going to be as insecure as it is exciting. .

One of the most favorite Winkelvoss twins, Cameron Winklevoss recently said that he could easily see the price of BTC go up 40% . This season possibly Not likely. The twin said he and his brother had been taking longer outlook, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is actually fixed in supply therefore its better than infrequent it kind of equals a much better gold across the board. We think regardless of the price moves in the past 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 gold, He 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 color 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 have also had their say though hardly any could be drawn into real predictions. We observed a general trend in their own assessments.

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At this phase, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even little developments in governments, traditional will likely affect costs. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Pros would prefer to make predictions over a longer period. It is more common to have bitcoin price predictions for 2020 or a 10 to 20-year outlook. While the current reality may suggest some gloom, its worth remembering that the peaks attained last year came under similar corrections along the way.

Though bitcoin could have a limited use case, it has been tipped to remain the king of all cryptocurrencies. Its not going to be a case of which altcoin will overtake bitcoin rather the way they'll impress with their distinctive use cases. It is 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 specialists, but see Bitcoin much more as a store of value, an asset rather than a medium of transaction. Find Out More .

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Part of the procedure that 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 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 source of bitcoina fixed supply 21 million BTCswill play a part in its cost; if not now, in the long run.

Many observers think that external elements which 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.

Due to the anonymity of Bitcoin transactions, it has been used 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 new and super-risky. Remember ethereum founder saying that cryptos are so risky the prizes might actually drop to zero. Well, that doesnt seem practical but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Just like John Draper noted, you still need to buy stuff in fiat.

This past year we released our astonishing Bitcoin cost forecast of 160,000 USD. Is this cost forecast still relevant after the crypto crash This article features our Bitcoin price forecast for 2019. Since last year when we wrote our 160,000 forecast 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.