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Down the road in CNBCs broadcasting space, Sluymer pointed out the series of higher lows that the price of Bitcoin should hold at if the market remains in a bearish state.
He reiterated that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price 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 rather a low level, similar to the levels seen before previous temporary movements to the upside seen before this year.
The setup is there, but what we need to see is that the token really breakout and continue through some very key amounts.
But like many analysts, Sluymer had something to say about 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 brief 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 get started adding here to a 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 prices in 2019 have been indicated by volatility which has made bitcoin price prediction in short term a small challenge, even for the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic as the rollercoaster we state in 2017.
History generally has a means of repeating itself but bitcoin includes 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 acquire predictions spot-on now 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 quite 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 broad majority will buy more coins in hope of price resurgence after 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 years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that the Bitcoin price 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 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 limited supply of Bitcoin, his prediction considered the variables such as the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion that gives large room for growth.
The Swiss-based financial pro will possess us brace up for a decade of turbulence before any hope for these details a stable 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 viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it'll 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 to 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 big impactDemand 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 icy water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were headed out 10 years from nowI would see $100 as being much more likely 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 digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.