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Down the road in CNBCs broadcasting room, Sluymer pointed out the series of higher lows that the price of Bitcoin must hold at if the economy remains in a bearish state.

He cautioned that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement maybe turning to 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 season.

The installation is there, however, what we need to see is that the token actually breakout and move through some very key levels.

However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario.  But Sluymer has shared the bullish sentiment with his co-worker, Tom Lee, saying:

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If youre brief we think you need to 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 price go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin prices in 2019 have been indicated by volatility that has made bitcoin cost 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 as the rollercoaster we state in 2017.

History generally has a way of repeating itself bitcoin includes a lot of background that makes it an equivalent challenge predicting which history will be replicated. 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 suggest 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 much more cost 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 very positive about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following past years prediction of $7000 find out that was well surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has quickened considerably faster than my model assumptions. I now forecast Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind the restricted supply 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 large room for growth.

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

Perfectpullquote alignfull bordertopfalse cite link colour course sizeIn my opinion, it will 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 small 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 article source former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured freezing water on hopes Read More Here of Bitcoin making it into the moon.

Perfectpullquote alignfull bordertopfalse cite link color course sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been led out 10 years from nowI would visit $100 as being much more likely 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 but a Bitcoin pioneer on Wall Street thinks along very different lines.