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Assuming this expansion happens at the exact 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.

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Last month, Llew Classen created a daring statement to reassure Bitcoin believers that the cryptocurrency is on the right track specifically, on course to reach the $40,000 mark. Though his outlook for some altcoin holders was not so encouraging, he made it crystal clear that as something new, cryptocurrency is going to be as risky as it's exciting. .

One of the most favorite Winkelvoss twins, Cameron Winklevoss recently said he could readily observe the price of BTC go up 40% . This year 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 in fact fixed in supply therefore 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 asset.   Winklevoss /perfectpullquote

The fourth wealthiest cryptocurrency investor believed bitcoins prospect against gold and developed a resounding conclusion. We think bitcoin disrupts goldHe 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 can see this happen in 20 years time.

Perfectpullquote alignfull bordertopfalse cite link colour 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 good number of analysts also have had their say though very few would be drawn into real 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 costs. Most say 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 cost predictions for 2020 or a 10 into 20-year outlook. Though the current reality can suggest some gloom, its worth remembering that the heights attained 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 an instance of that altcoin will overtake bitcoin rather how they will impress with their special use cases. It is a simple 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 specialists, but see Bitcoin much more as a store of value, an advantage rather than a medium of transaction. .

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Part of the procedure which will lead to general acceptance of cryptocurrencies 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 future.

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, click here for more for instance, is expected to tilt the price in any event.

Because of the anonymity of Bitcoin transactions, it's been used to conduct illegal activities 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 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.

Last year we released our astonishing Bitcoin cost forecast of 160,000 USD. Is this cost forecast still relevant after the crypto crash This article 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 matured as an investment vehicle, chiefly with the introduction of Bitcoin futures.

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