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Down the road in CNBCs broadcasting space, Sluymer pointed out that the series of higher lows which the price of Bitcoin should hold at if the economy stays in a bearish state.

He cautioned that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins price movement possibly turning to the upside if it breaks through the current downtrend levels.

As well, he also pointed out that Bitcoins RSI was sitting in 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 actually breakout and continue through some very key levels.

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 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 start 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 marked by volatility which has made bitcoin price prediction in short term a bit of a challenge, even to the experienced analysts. So 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 but bitcoin has a great deal of history which makes it an equal challenge predicting which history will be replicated. It takes more than a study of past trends to acquire predictions spot-on this time and so we ended this article by highlighting certain area specialist 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 suggest a broad majority will buy more coins in hope of cost resurgence after this season.

As we delve 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 led by the decades end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really positive about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 that was nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has accelerated much faster than my version assumptions. I now forecast Bitcoin at $1 million by the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote

Aside from the economics behind the limited source 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 that gives large room for growth.

The Swiss-based financial pro will have 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 however, not as a fiat replacement but a viable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour 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 colour class sizeIn the short term, falls have been driven by emotion and in many cases disinformation a small rumor can have a large impactDemand is driven look at more info by market speculation, but the absence of institutional investors means 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 into 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 had been led out a decade from nowI would see $100 as being a lot 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 up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.