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Down the street in CNBCs broadcasting space, Sluymer pointed out the series of higher lows which the price of Bitcoin should hold at if the economy remains in a bearish state.
He reiterated that he considers that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement possibly turning into the upside if it breaks through the current downtrend levels.
Also, he also pointed out that Bitcoins RSI was sitting in quite a low level, similar to the levels seen before preceding temporary movements to the upside seen before this year.
The setup is there, however, what we need to see is that the token actually breakout and continue through some very crucial levels.
However, like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. However, Sluymer has shared with 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 brief exposure. I think if youre looking to be long this is where you start adding here to your long exposure.
Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin costs in 2019 have been marked by volatility that has made bitcoin cost prediction in short-term a bit of a challenge, even to 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 way of repeating itself bitcoin includes a great deal of history that makes it an equal challenge predicting which history will be replicated. It takes more than a study of previous trends to get predictions spot-on now 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 purchase more coins in expectation of price resurgence later this season.
As we delve deeper into whos saying what and why, heres a heads-up. Expect a lot more price fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is led by the years end.
John this content McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really positive about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 that was nicely 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 restricted supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives substantial room for expansion.
The Swiss-based financial pro will have us brace up for a decade of turbulence before any hope for a stable bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement however a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it'll be at least 10 years before we see stability. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance expert 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, falls have been driven by emotion and in many cases disinformation a little rumor can have a big impactDemand is driven by market speculation, but the absence of institutional investors means the market 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 into the moon.
Perfectpullquote alignfull bordertopfalse cite link color course sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been headed out 10 years from nowI will see $100 as being a lot more inclined than $100,000.  Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is based on his long-held belief that governments will grow against anonymous virtual currencies such as Bitcoin. Government regulations, according to recommended you read Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.