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Down the road in CNBCs broadcasting room, Sluymer pointed out that the number of higher lows that the cost of Bitcoin should hold at if the economy stays 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 at quite a low level, like the levels seen before previous temporary movements to the upside seen earlier this season.
The setup is there, but what we need to see is that the token actually breakout and move through some very key levels.
But 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 should be very careful and reducing your short exposure. I think if youre looking to be long this is where you get started adding here to your 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 prices in 2019 have been indicated by volatility which has made bitcoin price prediction in short term a small challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we state in 2017.
History generally has a means of repeating itself bitcoin includes a great deal of history which makes it an equal challenge predicting which history will be repeated. 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 figures have very diverging opinions and bitcoin cost 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 purchase more coins in hope 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 where Bitcoin is led by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very optimistic about Bitcoin. He predicted that the 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 from 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 factors such as the increased adoption of Bitcoin and blockchain in addition advice to a total cryptocurrencys market cap around $162 billion which gives substantial room for expansion.
The Swiss-based financial pro 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 colour 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 expert at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble Read Full Report 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 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 click here to read cite link colour class sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if were headed out 10 years from nowI would see $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 rise against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.