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Down the road in CNBCs broadcasting room, Sluymer pointed out that the number of higher lows which the price of Bitcoin must hold at if the economy remains in a bearish state.

He reiterated that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement possibly turning to 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, similar to the levels seen before preceding 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 move through some very crucial levels.

But 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 short we think you should be very careful and reducing your short 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 price go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin prices in 2019 have been indicated by volatility that has made bitcoin price prediction in short term a small 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 means of repeating itself but bitcoin includes a lot of background which makes it an equivalent challenge predicting which history will be repeated. It requires more than a study of past 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 statistics 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 imply a wide majority will buy more coins in expectation of price resurgence later this year.

As we delve into whos saying what and why, heres a heads-up. Expect much 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 software, is being very optimistic about Bitcoin. He predicted that 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'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 complete cryptocurrencys market cap around $162 billion that gives substantial room for expansion.

The Swiss-based financial pro will possess us brace up for a few years of turbulence before any hope try this site 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 however a workable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour course 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 job 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 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 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 headed out a decade 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 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.