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Assuming that this growth happens at exactly the exact same pace 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 that the cryptocurrency is on the right track specifically, on course to reach the $40,000 mark. Though 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 popular Winkelvoss twins, Cameron Winklevoss recently said he could readily see the purchase price of BTC go up 40% . This season maybe Not likely. The twin stated 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 in fact fixed in supply so its better than infrequent it sort of equals a 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 developed a resounding verdict. We think bitcoin disrupts gold, He said.

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 good number of analysts have also had their say though very few would be drawn into real predictions. We observed a general trend in their own assessments.

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

Experts would rather make predictions within a longer period. It is more common to have bitcoin price predictions for 2020 or a 10 to 20-year outlook. Though the current reality may 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 case, it has been tipped to remain the king of cryptocurrencies. Its not going to be an instance try these out of which 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 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 experts, however, see Bitcoin 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 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 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 price in any event.

Because of the anonymity of Bitcoin transactions, it has been used to conduct illegal activities giving Bitcoin a general poor image. This image, 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 fall to zero. Well, that doesnt seem sensible but the message was clear. Do not invest your life savings in bitcoin or even cryptocurrencies generally. Exactly like John Draper noted, you still need to buy stuff in fiat.

Last year we released our astonishing Bitcoin cost forecast of 160,000 USD. Is this cost forecast still relevant after the crypto crash This report includes our Bitcoin price forecast for 2019. Since last year when we composed our $160,000 forecast 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.

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