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

He reiterated that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement possibly turning to the upside when it breaks through the current downtrend levels.

Also, he also pointed out that Bitcoins RSI was sitting in rather 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 amounts.

However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario.  However, Sluymer has still shared with 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 a long exposure.

Bitcoin Price Predictions 2019: 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 marked by volatility that has made bitcoin price prediction in short-term a bit of a challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we state 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 replicated. It requires more than a study of previous trends to get predictions spot-on this time and so we ended this article by highlighting certain area specialist 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 broad majority will purchase more coins in hope of cost resurgence after this season.

As we delve into whos saying what and why, heres a heads-up. Expect Learn More much more price fluctuations important site in the interim. Its going to be a bumpy ride getting to where Bitcoin is headed by the years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really positive about Bitcoin. He predicted that Bitcoin price 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 accelerated much faster than my version assumptions. I now predict Bitcoin at $1 million by the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote

Aside from the economics behind the restricted supply of Bitcoin, his prediction considered the variables like the increased adoption of Bitcoin and blockchain in addition to a complete cryptocurrencys market cap around $162 billion that gives substantial room for growth.

The Swiss-based financial expert will possess 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 China. This however, not as a fiat replacement but a viable alternative.

Perfectpullquote alignfull bordertopfalse pop over here cite link colour class sizeIn my opinion, it will be at least 10 years before we see stability.  Kristjan Dekleva (Hedge)/perfectpullquote

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The finance specialist at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar into the DotCom bubble of the 90s.

Perfectpullquote alignfull bordertopfalse cite link color class sizeIn the short-term, falls 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 market 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 class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been headed out a decade from nowI would see $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 virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.