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Down the road in CNBCs broadcasting space, Sluymer pointed out the number 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 to the upside when it breaks through the current downtrend levels.
Also, 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 that the token actually breakout and continue through some very crucial amounts.
However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario. But Sluymer has still 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: Just 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 indicated 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 though not a dramatic since the rollercoaster we state in 2017.
History generally has a way of repeating itself but bitcoin includes a great deal of history which makes it an equivalent challenge predicting which history will be replicated. It takes more than a study of past trends to get 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 statistics have quite diverging opinions and bitcoin cost 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 hope of price resurgence later this year.
As we delve into whos saying what and why, heres a heads-up. Expect much more cost fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is headed by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very optimistic about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 which 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 will still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the restricted 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 substantial room for expansion.
The Swiss-based financial expert will possess us brace up this link 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 course sizeIn my opinion, it will be at least 10 years before we see equilibrium. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance specialist at cryptocurrency job 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 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 freezing water on hopes of Bitcoin making it into the moon.
Perfectpullquote alignfull bordertopfalse cite link color class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been headed out 10 years from nowI will visit $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 index governments will rise against anonymous digital currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.