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Down the road in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows that the price of Bitcoin should hold at if the economy remains in a bearish state.

He reiterated that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins price movement maybe turning to the upside if it breaks through the current downtrend levels.

As well, he also pointed out that Bitcoins RSI was sitting at rather a low level, like the levels seen before preceding 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 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 with 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: 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 indicated by volatility that has made bitcoin cost prediction in short-term a bit of a challenge, even to the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we state in 2017.

History generally has a means of repeating itself bitcoin has a great deal of background which makes it an equivalent challenge predicting which history will be replicated. It requires more than a study of previous 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 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 imply a broad majority will buy more coins in expectation of price resurgence later this season.

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 wherever Bitcoin is headed by the decades end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really positive about Bitcoin. He predicted that Bitcoin price 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 color class sizeBTC has quickened considerably faster than my model assumptions. I now predict Bitcoin at $1 million from the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote

Aside from the economics behind the limited source 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 which gives large room for expansion.

The Swiss-based financial pro will have us brace up for a few years of turbulence before any hope for a stable bitcoin. This click here now 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 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 to 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 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 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 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 grow 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.