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Down the road in CNBCs broadcasting space, Sluymer pointed out the series of higher lows that the cost of Bitcoin should hold at if the market remains in a bearish state.
He reiterated that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins price movement possibly turning into the upside when it breaks through the current downtrend levels.
Also, he also pointed out that Bitcoins RSI was sitting in rather a low level, like the levels seen before previous temporary movements to the upside seen earlier this year.
The setup is there, but what we need to see is the token actually breakout and move through some very key levels.
However, 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 short we think you should 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: Just how high can Bitcoin cost go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin costs in 2019 have been marked by volatility which has made bitcoin cost prediction in short-term a bit of a 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 lot of background which makes it an equal challenge predicting which history will be replicated. It takes more than a study of past trends to get 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 very diverging opinions and bitcoin price predictions for both long and short term. Optimism remains high in many quartersreports of a new survey among British financials suggest a wide majority will buy more coins in hope 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 wherever Bitcoin is led 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 cost will hit $1 million by 2020 following past years prediction of $7000 which 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 predict 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 source of Bitcoin, his prediction considered the variables like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives large room for expansion.
The Swiss-based financial expert will possess us brace up for a decade of Our site 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 workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color 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 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 more info here 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 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 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 worth a tiny fraction of what it is now if were headed out a decade from nowI will visit $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 like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.