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Down the road in CNBCs broadcasting room, Sluymer pointed out that the number of higher lows that the cost of Bitcoin must hold at if the economy remains in a bearish state.
He cautioned that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price movement possibly turning to the upside if 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 preceding temporary movements to the upside seen earlier this year.
The setup is there, however, what we need to see is the token actually breakout and move 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 shared the bullish sentiment with his co-worker, Tom Lee, saying:
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If youre brief we think you should 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 cost go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been indicated 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 state in 2017.
History generally has a way of repeating itself but bitcoin has a lot of history that makes it an equal challenge predicting which history will be replicated. 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 expert analysts were looking at. .
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Analysts, enthusiast, and industry figures have quite diverging opinions and bitcoin price predictions for both long and short term. Optimism remains high in many quartersreports of a new survey among British financials suggest a broad majority will purchase more coins in hope of price resurgence later this season.
As we delve deeper into whos saying what reference and why, heres a heads-up. Expect a lot more price fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is led by the years he has a good point end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really optimistic about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following last years prediction of $7000 that was nicely surpassed.
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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has accelerated much faster than my version assumptions. I now forecast 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 as well as a total cryptocurrencys market cap around $162 billion which gives substantial room for growth.
The Swiss-based financial pro will have us brace up for a few years of turbulence before any hope for a 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 but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it will be at least 10 years until we see stability. 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 color class sizeIn the short term, drops have been driven by emotion and in many cases disinformation a small rumor can have a large impactDemand is driven by market speculation, but the absence of institutional investors means that the market is unstable. /perfectpullquote
Known for his disparaging remarks against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured freezing water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been headed out a decade from nowI would visit $100 as being a lot more inclined 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 very different lines.