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Assuming that this expansion happens in 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 created a daring statement to guarantee Bitcoin believers the cryptocurrency is on the right track specifically, on track to reach the $40,000 mark. Although his prognosis for a few altcoin holders was not very encouraging, he made it crystal clear that as something new, cryptocurrency is going to be as insecure as it is exciting. .

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

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is actually fixed in supply so its better than scarce it kind of equals a much better gold throughout the board. We think regardless of the price moves in the past few months, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against gold and came up with 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 can 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 very few could be drawn into actual predictions. We observed a general trend in their assessments.

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At this phase, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even small read what he said developments in governments, traditional will likely affect prices. Most state the fluctuations are normal and wouldnt affect the longer term prognosis.

Experts would prefer to make predictions within a longer period. It's more common to have bitcoin price predictions for 2020 or even a 10 to 20-year outlook. Though 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 could have a restricted use case, it's 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 will impress with their special use cases. It is a fact that the technology behind bitcoin is less complicated 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 resources. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most decision making bodies and financial specialists, 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 which will lead to general acceptance of cryptocurrencies include a clean-up of useless cryptocurrencies. A fantastic 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 alarm. .

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

Many observers think that outside factors which 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 either way.

Due to the anonymity of Bitcoin transactions, it's been used to conduct illegal actions giving Bitcoin a general bad picture. 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. Recall ethereum founder saying that cryptos are so insecure the prizes may actually fall to zero. Well, that doesnt seem practical but the message was clear. Do not invest your life savings in bitcoin or cryptocurrencies generally. Exactly like John Draper noted, you still need to purchase things in fiat.

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