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Down the road in CNBCs broadcasting room, Sluymer pointed out the series of higher lows which the price 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 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 rather 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 actually breakout and move through some very key amounts.

However, like many analysts, Sluymer had something to say regarding 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 brief exposure. I think if youre looking to be long this is where you start 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 costs 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 say in 2017.

History generally has a means of repeating itself but bitcoin has a lot of background that makes it an equal challenge predicting which history will be repeated. It requires more than a study of past trends to acquire predictions spot-on this time 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 quite diverging opinions and bitcoin price predictions for both long and short term. Optimism is still high in many quartersreports of a new survey among British financials imply a wide majority will buy more coins in expectation browse around this site of price resurgence later this season.

As we delve into whos saying what and why, heres a heads-up. Expect much more price fluctuations in the interim. Its going to be a bumpy ride getting to wherever Bitcoin is headed informative post by the years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very optimistic about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following past years prediction of $7000 which was well surpassed.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has quickened considerably faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind the restricted source of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion which gives large room for expansion.

The Swiss-based financial expert will possess us brace up for a decade 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, falls have been driven by emotion and in many cases disinformation a small rumor can wikipedia reference 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 freezing water on hopes of Bitcoin making it into the moon.

Perfectpullquote alignfull bordertopfalse cite link color course sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been led out a decade from nowI would see $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 digital currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.