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Down the road in CNBCs broadcasting room, Sluymer pointed out the number of higher lows that the cost of Bitcoin must hold at if the market remains in a bearish state.
He cautioned that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins cost 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 preceding temporary movements to the upside seen before this season.
The setup is there, however, what we need to see is the token actually breakout and continue 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 short 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 a long exposure.
Bitcoin Price Predictions 2019: Just 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 indicated by volatility that has made bitcoin price prediction in short term a bit of a challenge, even for the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we say in 2017.
History generally has a way of repeating itself bitcoin includes a lot of history that makes it an equal challenge predicting which history will be replicated. It takes more than a study of previous trends to get 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 figures have very my explanation 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 imply a wide majority will buy more coins in hope of price resurgence later this season.
As we delve into whos saying what and why, heres a heads-up. Expect a lot more price 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 really positive about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 which was nicely surpassed.
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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my version assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote
Apart 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 which gives substantial room for expansion.
The Swiss-based financial expert 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 though, not as a fiat replacement however a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it will be at least 10 years until we see equilibrium. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance expert at cryptocurrency project 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, falls 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 the market 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 class sizeI think Bitcoin is going to 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 a lot more inclined than $100,000.  Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is based on his long-held belief that governments will rise 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.