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Down the road in CNBCs broadcasting space, Sluymer pointed out that the series of higher lows which the price of Bitcoin should hold at if the economy stays 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, like the levels seen before preceding temporary movements to the upside seen before this year.
The setup is there, however, what we need to see is the token really breakout and continue through some very key amounts.
But like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario. But Sluymer has still 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 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 cost 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 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 as the rollercoaster we say in 2017.
History generally has a means of repeating itself bitcoin includes a great deal of background which 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 expert analysts were looking at. .
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Analysts, enthusiast, and industry figures have very 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 broad majority will purchase more coins in expectation of price resurgence after this season.
As we delve into whos saying what and why, heres a heads-up. Expect much more price fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is headed by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really positive about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 which was nicely 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 the restricted supply 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 substantial room for expansion.
The Swiss-based financial pro will have 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 but a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it will be at least 10 years before we see stability. Kristjan Dekleva (Hedge)/perfectpullquote
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The finance specialist at cryptocurrency project 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 small rumor can have a large impactDemand is driven by market speculation, but the absence of institutional investors means that the market is unstable. /perfectpullquote
Known for his disparaging comments against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured icy water on hopes of Bitcoin making it into 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 had been led out 10 years from nowI will 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 like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble continue reading this however a Bitcoin pioneer on Wall Street thinks along quite different lines.