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

He reiterated that he considers that Bitcoin is going 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 rather a low level, like the levels seen before previous temporary movements to the upside seen earlier this year.

The setup is there, however, what we need to see is that the token really breakout and move through some very key amounts.

But like many analysts, Sluymer had something to say regarding 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 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 costs in 2019 have been indicated by volatility which has made bitcoin price prediction in short-term a small challenge, even to the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we say in 2017.

History generally has a way of repeating itself but bitcoin includes a great deal of background that makes it an equal challenge predicting which history will be repeated. It requires more than a study of previous 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 cost 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 purchase more coins in hope of cost resurgence later this season.

As we delve recommended you read deeper into whos saying what and why, heres a heads-up. Expect a lot more cost fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is led by the decades end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, 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 nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has quickened considerably 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

Apart from the economics behind the limited source of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a complete cryptocurrencys market cap around $162 billion that 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 steady 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 viable 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 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 a little rumor can have a large impactDemand is useful site driven by market speculation, but the absence of institutional investors read this article means that the industry 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 course sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were led out a decade from nowI will visit $100 as being a lot more inclined 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 virtual currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.