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Assuming that this growth happens in the same pace 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 that the cryptocurrency is on the ideal track specifically, on course to reach the $40,000 mark. Though his outlook 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's exciting. .

One of the favorite Winkelvoss twins, Cameron Winklevoss recently said he could readily see the purchase price of BTC go up 40% . This year maybe 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 in fact fixed in supply therefore its better than scarce it sort of equals a much better gold throughout the board. We think Irrespective of the price moves in the last few months, its still a very underappreciated advantage.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against golden and came up with a resounding conclusion. 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 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 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 real predictions. We observed a general trend in their assessments.

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At this stage, bitcoin and cryptocurrencies will be greatly affected by speculations. Even little developments in governments, traditional will probably affect prices. Most say the fluctuations are normal and wouldnt influence the longer term outlook.

Experts would rather make predictions within a longer period. It's 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 heights achieved last year came amidst similar corrections along the way.

Though bitcoin may 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 the way they will impress with their distinctive use cases. It is a fact that the technology behind bitcoin is less dig this 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 resources. 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 advantage rather than a medium of transaction. .

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

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

Many observers believe that outside factors that 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 in any event.

Due to the anonymity of Bitcoin transactions, it's been used to conduct illegal activities giving Bitcoin a general poor picture. This image, analysts think will impact its adoption and ultimately its prospects in the future.

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Crypto investments are new and super-risky. Recall ethereum founder saying that cryptos are 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 purchase stuff in fiat.

This past year we released our astonishing Bitcoin price prediction of 160,000 USD. Is this price forecast still relevant after the crypto crash This report includes our Bitcoin price prediction 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.