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Down the road in CNBCs broadcasting space, Sluymer pointed out the number of higher lows that the price of Bitcoin must hold at if the economy remains 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 if 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 preceding temporary movements to the upside seen before this season.

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

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 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 which has made bitcoin cost prediction in short-term a small challenge, even to the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we say in 2017.

History generally has a means of repeating itself but bitcoin has a great deal of history that makes it an equivalent challenge predicting which history will be repeated. 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 quite diverging opinions and bitcoin price predictions for both long and short term. Optimism is still high in many Our site quartersreports of a new survey among British financials imply a wide majority will purchase more coins in hope of cost resurgence later 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 where Bitcoin is headed by the years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really positive about Bitcoin. He predicted that the Bitcoin cost will hit $1 million by 2020 following last years prediction of $7000 that was well surpassed.

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has quickened considerably faster than my version assumptions. I now forecast 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 factors like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives large room for growth.

The Swiss-based financial expert will have 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 though, not as a fiat replacement but a viable alternative.

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

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The finance expert at cryptocurrency project 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, 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 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 colour course sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if were headed out 10 years from nowI would visit $100 as being a lot more inclined 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 however a Bitcoin pioneer on Wall Street thinks along very different lines.