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Down the road in CNBCs broadcasting space, Sluymer pointed out the number of higher lows that the price of Bitcoin should hold at if the market remains in a bearish state.
He cautioned 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.
Also, 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 before this year.
The setup is there, however, what we need to see is that the token really breakout and continue through some very crucial levels.
But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. But 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 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: Just how high can Bitcoin cost go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been indicated by volatility which has made bitcoin cost 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 as the rollercoaster we say in 2017.
History generally has a means of repeating itself bitcoin includes a great deal of history which 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 statistics have quite 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 buy more coins in expectation of cost resurgence after this year.
As we delve deeper into whos saying what and why, heres a heads-up. Expect much more cost fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is led by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that the Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 that was well 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 by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the restricted supply of Bitcoin, his prediction considered the factors such as the increased adoption of Bitcoin and blockchain in addition to a complete cryptocurrencys market cap around $162 billion which gives substantial room for expansion.
The Swiss-based financial pro will have us brace up for a decade 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 course sizeIn my opinion, it'll be at least 10 years until 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 colour 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 comments against Bitcoin, a former chief economist at 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 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 grow against anonymous digital currencies such as Bitcoin. Government regulations, Your Domain Name according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.