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Down the street in CNBCs broadcasting room, Sluymer pointed out the series of higher lows which the price of Bitcoin must hold at if the economy stays in a bearish state.
He reiterated that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins cost movement maybe turning to the upside when it breaks through the current downtrend levels.
Also, 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 earlier this season.
The setup is there, however, what we need to see is the token actually breakout and move through some very crucial levels.
However, like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. But Sluymer has shared with 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 your long exposure.
Bitcoin Price Predictions 2019: 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 marked by volatility that has made bitcoin cost prediction in short term a bit of a challenge, even for the experienced analysts. Thus far, 2018 has presented its own surprises although not a dramatic as the rollercoaster we state in 2017.
History generally has a way of repeating itself but bitcoin has a great deal of history which makes it an equivalent challenge predicting which history will be repeated. It requires more than a study of past trends to get predictions spot-on this time and so we ended this article by highlighting certain area specialist YOURURL.com analysts were looking at. .
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Analysts, enthusiast, and industry figures have quite 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 expectation of cost 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 wherever Bitcoin is headed by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really positive about Bitcoin. He predicted that the Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 which 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 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 restricted supply of Bitcoin, his prediction considered the variables like 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 expert will have 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 however, More about the author not as a fiat replacement however a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it will be at least 10 years before we see equilibrium. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance expert 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, falls have been driven by emotion and in many cases disinformation a small 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 freezing water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were headed out 10 years from nowI will see $100 as being much more inclined 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 virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.