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Down the road in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows which the cost of Bitcoin should hold at if the market remains in a bearish state.
He reiterated 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 in quite a low level, like the levels seen before preceding temporary movements to the upside seen before this season.
The installation is there, but what we need to see is that the token actually breakout and continue through some very key amounts.
But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. But Sluymer has still shared the bullish sentiment with his co-worker, Tom Lee, saying:
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If youre brief we think you need to be very careful and reducing your short exposure. I think if youre looking to be long this is where you start adding here to a long exposure.
Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been indicated by volatility that has made bitcoin cost 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 since the rollercoaster we state in 2017.
History generally has a way of repeating itself bitcoin has a lot of history that makes it an equal challenge predicting which history will be replicated. It requires more than a study of past 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 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 year.
As we delve deeper into 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 where 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 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 accelerated much faster than my model assumptions. I now forecast Bitcoin at $1 million from the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote
Apart from the economics behind the restricted supply of Bitcoin, his prediction considered the variables like the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion that gives large room for growth.
The Swiss-based financial pro will have us brace up for a few years 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 but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it will be at least 10 years before 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 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 little rumor can have a big impactDemand is driven by market speculation, but the absence of institutional investors means that the industry is unstable. /perfectpullquote
Known for his disparaging remarks against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured icy read here water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link color course sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been headed out a decade from nowI would visit $100 as being much 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 virtual currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.