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Down the road in CNBCs broadcasting space, Sluymer pointed out the number of higher lows that the price of Bitcoin must hold at if the market stays in a bearish state.
He cautioned that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price movement maybe turning to the upside when it breaks through the current downtrend levels.
As well, he also pointed out that Bitcoins RSI was sitting at quite a low level, like 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 the token really breakout and move through some very crucial levels.
But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. However, Sluymer has still shared with the bullish sentiment with his co-worker, Tom Lee, saying:
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If youre short 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 a long exposure.
Bitcoin Price Predictions 2019: Just how high can Bitcoin price go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin costs in 2019 have been marked by volatility which has made bitcoin cost prediction in short term a small challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we say in 2017.
History generally has a way of repeating itself but bitcoin has a lot of background that makes it an equivalent challenge predicting which history will be repeated. It takes more than a study of previous trends to acquire 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 expectation of cost resurgence later this year.
As we delve into whos saying what and why, heres a heads-up. Expect much more cost fluctuations in the interim. Its going to be a bumpy ride getting to wherever Bitcoin is headed by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really optimistic about Bitcoin. He predicted that the Bitcoin cost 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 accelerated much faster than my version assumptions. I now forecast Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the limited supply of Bitcoin, his prediction considered the variables such as the increased adoption of Bitcoin and blockchain as well as a complete cryptocurrencys market cap around $162 billion that gives large room for growth.
The Swiss-based financial pro will possess us brace up for a decade of turbulence before any hope for a stable bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This however, not as a fiat replacement however a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it'll be at least 10 years until we see stability. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance expert at cryptocurrency job Hedge sees Bitcoin investments as all-too-similar to 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, but the absence of institutional investors means that the market is unstable. /perfectpullquote
Known for his disparaging comments 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 course sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if were led out 10 years from This Site 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 grow against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.