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Down the street in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows which the cost of Bitcoin should hold at if the market remains in a bearish state.
He cautioned that he believes that Bitcoin is going 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 before this season.
The setup is there, however, what we need to see is the token really 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. However, Sluymer has still shared with 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 short exposure. I think if youre looking to be long this is where you start adding here to your 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 prices in 2019 have been indicated by volatility which 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 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 that makes it an equal 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 statistics have quite diverging opinions and bitcoin cost predictions link for both long and short term. Optimism remains high in many quartersreports of a new survey among British financials imply a broad majority will buy more coins in hope of cost resurgence after this year.
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 wherever Bitcoin is headed by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very positive about Bitcoin. He predicted that the Bitcoin price 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 colour 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 limited supply of Bitcoin, his prediction considered the factors like 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 pro 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 though, not as a fiat replacement but 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 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 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 into the moon.
Perfectpullquote alignfull bordertopfalse 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 a decade from nowI will visit $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 like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.