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Assuming that this growth happens in the same rate 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 the cryptocurrency is on the right track especially, on track to reach the $40,000 mark. Though his prognosis 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 popular 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 prognosis, 10 to 20 years.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBitcoin is actually fixed in distribution therefore its better than infrequent it kind of equals a much better gold throughout the board. We think Irrespective of the price moves in the last few weeks, its still a very underappreciated asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor weighed bitcoins prospect against golden and came up with a resounding verdict. We think bitcoin disrupts goldHe 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 colour class sizeBitcoin, I think will get to $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 have also had their say though very few would be drawn into actual predictions. We observed a general trend in their assessments.

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At this stage, bitcoin and cryptocurrencies will be significantly influenced by speculations. Even small developments in governments, traditional will probably affect costs. Most say the fluctuations are normal and wouldnt influence the longer term prognosis.

Pros would rather make predictions over a longer period. It is more common to get bitcoin price predictions for 2020 or even a 10 to 20-year outlook. While the current reality can indicate some gloom, its worth remembering that the peaks achieved last year came under similar corrections along the way.

Though bitcoin could have a restricted use case, it has 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'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 financial specialists, but 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 will include a clean-up of useless cryptocurrencies. A fantastic 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 limited supply of bitcoina fixed supply 21 million BTCswill play a role in its cost; if not now, in the long run.

Many observers think that external 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 in any event.

Because of the anonymity of Bitcoin transactions, it has been used to conduct illegal actions giving Bitcoin a general poor picture. This image, analysts believe will impact its adoption and finally its prospects in the future.

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Crypto investments are new and super-risky. Recall ethereum founder saying that cryptos are so risky the prizes might 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 stuff 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 report features 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 original site developed as an investment vehicle, primarily with the introduction of Bitcoin futures.