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Down the road in CNBCs broadcasting room, Sluymer pointed out the series of higher lows which the price of Bitcoin must hold at if the market remains 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.
As well, he also pointed out that Bitcoins RSI was sitting in rather a low level, similar to the levels seen before previous temporary movements to the upside seen earlier this year.
The setup is there, but what we need to see is that the token actually breakout and move 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 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 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 cost go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been marked by volatility that has made bitcoin cost prediction in short term a small challenge, even for the experienced analysts. Thus far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we say in 2017.
History generally has a means of repeating itself but 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 past 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 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 broad majority will purchase more coins in expectation of price resurgence later this season.
As go to my site we delve into whos saying what and why, heres a heads-up. Expect much more price fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is headed by the years end.
John McAfee, Bitcoin Click This Link supporter and founder of the popular McAfee antivirus software, is being very optimistic about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following last years prediction of $7000 that was well 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 from the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the limited supply of Bitcoin, his prediction considered the factors such as the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives substantial room for growth.
The Swiss-based financial pro 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 however, not as a fiat replacement however a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it'll be at least 10 years until we see stability. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance specialist at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar into 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 web link is driven by market speculation, but the absence of institutional investors means that the industry is unstable. /perfectpullquote
Known for his disparaging comments against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured freezing water on hopes of Bitcoin making it into the moon.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been led out a decade from nowI would see $100 as being much 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 virtual currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.