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Down the street in CNBCs broadcasting space, Sluymer pointed out the series of higher lows that the cost of Bitcoin must hold at if the market stays in a bearish state.

He reiterated that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement maybe 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 preceding temporary movements to the upside seen earlier this year.

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

But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario.  But Sluymer has shared with 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 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 Up to $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. 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 bitcoin includes a lot of background which makes it an equivalent challenge predicting which history will be replicated. It requires more than a study of past 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 statistics have quite diverging opinions and bitcoin price predictions for both long and short term. Optimism is still high in many quartersreports of a new survey among British financials imply a wide majority will purchase more coins in hope of price resurgence later this season.

As we delve deeper 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 led 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 last years prediction of $7000 which was well 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'll still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind you could check here the limited source of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion that gives substantial room for expansion.

The Swiss-based financial pro 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 though, not as a fiat replacement however a workable alternative.

Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it'll be at least 10 years before we see stability.  Kristjan Dekleva (Hedge)/perfectpullquote

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The finance specialist at cryptocurrency job 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, drops 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 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 to the moon.

Perfectpullquote alignfull bordertopfalse cite link color course sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if had been led out a decade from nowI will visit $100 as being much more inclined than $100,000.   Kenneth original site Rogoff/perfectpullquote

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Rogoffs prediction is dependent on his long-held belief that governments will rise against anonymous digital currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.