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Down the road in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows which the price of Bitcoin should hold at if the market stays in a bearish state.
He cautioned that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins price movement possibly turning into the upside when it breaks through the current downtrend levels.
Also, he also pointed out that Bitcoins RSI was sitting at quite a low level, similar to the levels seen before previous temporary movements to the upside seen earlier this season.
The installation is there, however, what we need to see is that the token really breakout and move through some very key levels.
However, like many analysts, Sluymer had something to say about 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 should be very careful and reducing your brief 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 cost go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been marked by volatility that has made bitcoin price prediction in short-term a bit of a 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 means of repeating itself bitcoin has a lot of background that makes it an equal challenge predicting which history will be repeated. It takes more than a study of previous trends to acquire 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 very 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 imply a broad majority will buy more coins in hope 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 headed by the years 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 which was nicely surpassed.
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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my version assumptions. I now forecast Bitcoin at $1 million by the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote
Apart from the economics behind the limited source of Bitcoin, his prediction considered the variables like the increased adoption of Bitcoin and blockchain as well as a complete cryptocurrencys market cap around $162 billion which gives substantial room for expansion.
The Swiss-based financial expert will possess us brace up for a decade of turbulence before any more information 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 however a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it will be at least 10 years until we see stability. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance expert at cryptocurrency job 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, drops 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 the market is unstable. /perfectpullquote
Known for his disparaging comments against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured freezing water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin is going to be worth like it a tiny fraction of what it is now if had been headed out a decade from nowI will see $100 as being much more likely than $100,000.  Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is dependent on his long-held belief that browse around this site governments will grow against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.