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Down the road in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows that the cost of Bitcoin must 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 cost movement possibly turning into the upside if it breaks through the current downtrend levels.

Also, 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 actually breakout and continue through some very crucial amounts.

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 your long exposure.

Bitcoin Price Predictions 2019: How high can Bitcoin price go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin costs in 2019 have been marked by volatility that has made bitcoin cost prediction in short-term a bit of a challenge, even to the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we state in 2017.

History generally has a way of repeating itself bitcoin has a great deal of background which makes it an equivalent challenge predicting which history will be replicated. It takes more than a study of previous trends to acquire 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 statistics have quite diverging opinions and bitcoin price predictions for both long and short-term. Optimism is still high in many quartersreports click now of a new survey among British financials imply a wide majority will buy more coins in expectation of price resurgence after this season.

As we delve 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 software, is being very positive about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 that was nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has quickened considerably faster than my version assumptions. I now predict 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 supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion which gives substantial room for expansion.

The Swiss-based financial expert will have us brace up for a few years of turbulence before any hope for a stable bitcoin. This he suggests will coincide with a general acceptance of Bitcoin even in hard-stance check over here China. This however, 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 stability.  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 short term, falls 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 that the market is unstable. /perfectpullquote

Known Continued for his disparaging comments 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 color class sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if had been led 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 rise 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.