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Down the road 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 cautioned that he considers that Bitcoin is going to challenge its downtrend, with Bitcoins price 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 installation is there, but what we need to see is that the token actually breakout and continue 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.  However, Sluymer has shared the bullish sentiment with his co-worker, Tom Lee, saying:

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If youre brief we think you should be very careful and reducing your short exposure. I think if youre looking to be long this is where you get started 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 indicated by volatility which has made bitcoin cost prediction in short-term a small 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 but bitcoin includes a lot of background that makes it an equivalent challenge predicting which history will be repeated. It requires more than a study of past 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 figures have very diverging opinions and bitcoin cost predictions for both long and short term. Optimism remains high in many quartersreports of a new survey among British financials imply a broad majority will purchase more coins in expectation of price resurgence after 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 decades end.

John McAfee, Bitcoin supporter Click Here and founder of the popular McAfee antivirus software, is being very optimistic 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 colour class sizeBTC has accelerated much 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

Apart from the economics behind the limited source of Bitcoin, his prediction considered the factors 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 next page 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 however a viable alternative.

Perfectpullquote alignfull bordertopfalse cite link color course Read Full Article sizeIn my opinion, it'll be at least 10 years before 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, 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 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 class sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if were led out 10 years from nowI will see $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 grow 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 quite different lines.