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Assuming that this expansion happens at the exact 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 lot about bitcoins foundation.

Last month, Llew Classen made a daring statement to guarantee Bitcoin believers that the cryptocurrency is on the right track especially, on course to reach the $40,000 mark. Though his outlook for a few 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 favorite Winkelvoss twins, Cameron Winklevoss recently said he could readily 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 colour class sizeBitcoin is actually fixed in distribution so its better than infrequent it sort of equals a much better gold across the board. We think Irrespective of the price moves in the last few months, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against gold and developed a resounding verdict. 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 can see this happen in 20 years time.

Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin, I think will reach $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 have also had their say though hardly any 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 developments in governments, traditional will likely affect costs. Most state the fluctuations are normal and wouldnt affect the longer term outlook.

Experts would rather make predictions over 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 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 an instance of that altcoin will overtake special info bitcoin rather the way they'll impress with their distinctive use cases. It's a fact that the technology behind bitcoin is less 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 resources. Bitcoin was originally designed as an alternative currency to bank the unbanked. Most decision making bodies and financial experts, but see Bitcoin more as a store of value, an asset rather than a medium of transaction. .

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Part of this 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 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 alert. .

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

Many observers think that outside factors which 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 either way.

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

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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 sensible 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 buy stuff in fiat.

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