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Down the street in CNBCs broadcasting space, Sluymer pointed out the series of higher lows that the price of Bitcoin must hold at if the economy stays in a bearish state.
He reiterated that he believes 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 at quite a low level, similar to 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 actually breakout and continue through some very crucial levels.
But 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 brief we think you need to 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 prices in 2019 have been indicated by volatility that has made bitcoin cost prediction in short-term a small challenge, even for the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we say in 2017.
History generally has a means of repeating itself bitcoin includes a lot of background that makes it an equal challenge predicting which history will be replicated. 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 expert analysts were looking at. .
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Analysts, enthusiast, and industry figures 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 wide majority will buy more coins in expectation of cost resurgence later this season.
As we delve deeper into whos saying what and why, heres a heads-up. Expect much 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 cost 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 quickened considerably faster than my version assumptions. I now predict Bitcoin at $1 million from the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the restricted 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 that gives large room for expansion.
The Swiss-based financial expert will possess us brace up for a decade of turbulence before any hope for a stable 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 colour class sizeIn my opinion, it'll be at least 10 years before we see equilibrium. 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 colour class sizeIn the short term, falls have been driven by emotion and in many cases disinformation a little 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 comments against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured freezing water on hopes of Bitcoin Visit This Link making it into the moon.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were led out 10 years from nowI will visit $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 governments will rise against anonymous virtual 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.