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Down the street in CNBCs broadcasting room, Sluymer pointed out that the number of higher lows that the cost of Bitcoin must hold at if the market stays in a bearish state.
He reiterated that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement maybe turning into the upside when it breaks through the current downtrend levels.
Also, he also pointed out that Bitcoins RSI was sitting in rather a low level, like the levels seen before preceding temporary movements to the upside seen before this season.
The installation 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. But Sluymer has still shared 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 start adding here to a long exposure.
Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)
Bitcoin costs in 2019 have been marked by volatility which has made bitcoin price prediction in short term a small challenge, even for the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we state in 2017.
History generally has a way of repeating itself bitcoin has a great deal of background which makes it an equal challenge predicting which history will be replicated. It requires more than a study of previous trends to acquire predictions spot-on this time and so we ended this article by highlighting certain area expert analysts were looking at. .
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Analysts, enthusiast, and industry statistics 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 broad majority will buy more coins in hope of cost resurgence after this year.
As we delve 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 headed by the decades end.
John McAfee, websites Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 that was well surpassed.
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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has quickened considerably faster than my version assumptions. I now forecast 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 limited supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion that gives substantial room for growth.
The Swiss-based financial expert will possess 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 however a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it'll be at least 10 years until we see equilibrium. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance specialist at cryptocurrency project 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 try this out rumor can have a big 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 icy water on hopes of Bitcoin making it to 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 were led 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 digital currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.