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Down the road in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows that the price of Bitcoin must hold at if the market stays in a bearish state.
He reiterated that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins cost movement possibly turning into 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 year.
The setup is there, however, what we need to see is the token really breakout and continue through some very key amounts.
But 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 brief we think you need to 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 your 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 which has made bitcoin cost prediction in short term a bit of a challenge, even for 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 has 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 expert 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 is still high in many quartersreports of a new survey among British financials imply a broad majority will buy 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 much more price fluctuations in the interim. Its going to be a bumpy ride getting to wherever Bitcoin is led by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really optimistic about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 which was nicely surpassed.
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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has accelerated much faster than my model assumptions. I now forecast Bitcoin at $1 million from 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 such as the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion which gives large room for growth.
The Swiss-based financial expert will possess us brace up for a few years of read this 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 but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it'll 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 to the DotCom bubble of the 90s.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn the short term, drops have been driven by emotion and in many cases disinformation you can try these out 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 to the moon.
Perfectpullquote alignfull bordertopfalse cite link color class sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been headed out a decade from nowI would visit $100 as being a lot 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 virtual currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.