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Down the street in CNBCs broadcasting space, Sluymer pointed out the number of higher lows which the cost of Bitcoin must hold at if the economy remains in a bearish state.
He cautioned that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins cost movement possibly turning to the upside when it breaks through the current downtrend levels.
As well, he also pointed out that Bitcoins RSI was sitting in quite a low level, similar to the levels seen before previous temporary movements to the upside seen before this season.
The setup is there, but what we need to see is the token really breakout and move through some very key amounts.
However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario. However, Sluymer has still shared 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 short 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 prices in 2019 have been marked by volatility that has made bitcoin cost prediction in short term a small challenge, even for the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we say in 2017.
History generally has a way of repeating itself bitcoin has a lot of background that makes it an equivalent challenge predicting which history will be replicated. It requires more than a study of past trends to get predictions spot-on this time 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 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 year.
As we delve deeper 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 wherever 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 cost will hit $1 million by 2020 following last years prediction of $7000 which was well surpassed.
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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has accelerated much 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 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 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 color class 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 colour class sizeIn the next page short term, falls have been driven by emotion and in many cases disinformation a small rumor can have Discover More a large 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 class sizeI think Bitcoin will be worth a tiny fraction of what it is now if were headed out 10 years 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 like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.