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Down the street in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows that the cost of Bitcoin must hold at if the economy stays in a bearish state.
He reiterated that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins price movement possibly turning to the upside when it breaks through the current downtrend levels.
As well, he also pointed out that Bitcoins RSI was sitting in quite a low level, similar to the levels seen before previous temporary movements to the upside seen before this year.
The setup is there, however, what we need to see is that the token actually breakout and continue through some very crucial levels.
But like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario. However, Sluymer has still shared the bullish sentiment with his co-worker, Tom Lee, saying:
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If youre short we think you need to be very careful and reducing your brief exposure. I think if youre looking to be long this is where you get started adding here to your long exposure.
Bitcoin Price Predictions 2019: Just how high can Bitcoin price go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been marked by volatility that has made bitcoin price prediction in short term a bit of a challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises although not a dramatic as the rollercoaster we say in 2017.
History generally has a means of repeating itself but bitcoin has a lot of background which makes it an equivalent challenge predicting which history will be repeated. It takes more than a study of past trends to get predictions spot-on now and so we ended this article by highlighting certain area specialist analysts were looking at. .
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Analysts, enthusiast, and industry statistics have very diverging opinions and bitcoin cost predictions for both long and short-term. Optimism remains high in many quartersreports of a new survey among British financials suggest a wide majority will purchase more coins in expectation of cost resurgence after this season.
As we delve into her response whos saying what and why, heres a heads-up. Expect a lot more cost fluctuations in the interim. Its going to be a bumpy ride getting to wherever Bitcoin is led by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very positive about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following past years prediction of $7000 that was nicely surpassed.
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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has quickened considerably faster than my version assumptions. I now predict Bitcoin at $1 million from the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote
Apart from the economics behind the limited supply of Bitcoin, his prediction considered the variables like the increased adoption of Bitcoin and blockchain in addition to a complete cryptocurrencys market cap around $162 billion which gives substantial room for growth.
The Swiss-based financial expert will have us brace up for a few years of turbulence before any hope for a Recommended Reading steady bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement however a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it will be at least 10 years until we see equilibrium. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance specialist at cryptocurrency job Hedge sees Bitcoin investments as all-too-similar into the DotCom bubble of the 90s.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn the short term, drops have been driven by emotion and in many cases disinformation a small rumor can have a big impactDemand is driven by market speculation, the original source but the absence of institutional investors means that the industry is unstable. /perfectpullquote
Known for his disparaging comments against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured icy water on hopes of Bitcoin making it into the moon.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been led out 10 years from nowI will see $100 as being a lot more likely than $100,000.  Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is dependent on his long-held belief that governments will rise against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.