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

He reiterated that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins cost movement maybe 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 installation is there, however, what we need to see is the token actually breakout and continue through some very key levels.

However, 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 should be very careful and reducing your short exposure. I think if youre looking to be long this is where you start adding here to a long exposure.

Bitcoin Price Predictions 2019: How high can Bitcoin cost 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 as the rollercoaster we state in 2017.

History generally has a means of repeating itself bitcoin has a great deal of background that makes it an equivalent challenge predicting which history will be replicated. It requires 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 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 imply a broad majority will purchase more coins in expectation of cost resurgence after this season.

As we delve 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 really optimistic about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 that was nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind the restricted source of Bitcoin, his prediction considered the description variables such as the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion that 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 colour class 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 colour class sizeIn the short-term, drops 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 the industry is unstable. /perfectpullquote

Known for his disparaging remarks against Bitcoin, a former chief economist at original site 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 class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were 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 based 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 quite different lines.