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Down the road in CNBCs broadcasting space, Sluymer pointed out the series of higher lows that the cost of Bitcoin must hold at if the market stays in a bearish state.
He cautioned that he believes 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.
As well, he also pointed out that Bitcoins RSI was sitting in rather a low level, like the levels seen before preceding 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 crucial amounts.
But like many analysts, Sluymer had something to say regarding 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 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 get started 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 prices in 2019 have been indicated by volatility that has made bitcoin price prediction in short term a small challenge, even for the experienced analysts. Thus far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we state 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 repeated. It takes more than a study of past trends to acquire 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 statistics have very diverging opinions and bitcoin cost predictions for both long and short-term. Optimism is still high in many quartersreports of a new survey among British financials suggest a broad majority will purchase more coins in expectation of price resurgence after 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 wherever Bitcoin is headed by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really optimistic about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 that was well surpassed.
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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has accelerated much faster than my version 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 supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives substantial room for growth.
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 but a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it'll be at least 10 years until we see stability. 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 color 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 that 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 colour course sizeI think Bitcoin will be worth a tiny fraction of what it is now if were led out a decade from nowI would see $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 digital currencies such as Bitcoin. Government regulations, according to his response Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.