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Assuming this expansion happens in the exact same pace as the 3-year journey to $10k then were in for half an hour. Maniacal right Thats exactly how Draper feels about Bitcoin prospects. Now onto someone who understands a whole lot about bitcoins foundation.

Last month, Llew Classen created a bold statement to reassure Bitcoin believers that the cryptocurrency is on the ideal track especially, on track to reach the $40,000 mark. Although his prognosis for a few altcoin holders was not so encouraging, he made it crystal clear that as something new, cryptocurrency is going to be as insecure as it is exciting. .

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

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is in fact fixed in supply so its better than scarce it kind of equals a better gold across the board. We think regardless 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 gold and came up with a resounding verdict. We believe 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 reach $1 million per bitcoinRight now its 10,000, it will 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 actual predictions. We observed a general trend in their own assessments.

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

Pros would rather make predictions within a longer period. It's more common to get bitcoin price predictions for 2020 or a 10 to 20-year outlook. While the current reality may indicate some gloom, its worth remembering that the heights achieved 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 an instance of that 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 sophisticated when compared to many other projects 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 click over here financial experts, but see Bitcoin more as a store of value, an advantage 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 these 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 restricted source of bitcoina fixed supply 21 million BTCswill play a part in its price; if not now, in the long run.

Many observers believe that external elements that affect 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's been used to conduct illegal activities giving Bitcoin a general bad picture. This picture, analysts believe will affect its adoption and finally its prospects in the long run.

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Crypto investments are somewhat new and super-risky. Remember ethereum founder saying that cryptos are so insecure the prizes may actually fall to zero. Well, that doesnt seem practical however, 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 things in fiat.

Last year we released our astonishing Bitcoin price forecast of 160,000 USD. Is this price 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.