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Down the street in CNBCs broadcasting space, Sluymer pointed out that the series of higher lows that the price of Bitcoin should hold at if the market stays in a bearish state.
He reiterated that he considers that Bitcoin is going to challenge its downtrend, with Bitcoins price movement maybe turning to the upside when it breaks through the current downtrend levels.
As well, 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 before this season.
The setup is there, but 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 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 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 that 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 as the rollercoaster we state in 2017.
History generally has a way of repeating itself bitcoin includes a lot of background which makes it an equal 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 statistics have quite diverging opinions and bitcoin price 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 cost resurgence later this season.
As we delve into whos saying what and why, heres a heads-up. Expect a lot more cost fluctuations in the interim. Its going to be a bumpy ride getting to wherever Bitcoin is led by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very optimistic about Bitcoin. He predicted that 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 accelerated much faster than my version 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 limited supply of Bitcoin, his prediction considered the variables like the increased adoption of Bitcoin and blockchain in addition to 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 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 though, not as a fiat replacement but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour course sizeIn my opinion, it'll be at least 10 years until we see equilibrium. 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, falls have been driven by emotion and in many cases disinformation a small rumor can have a big impactDemand is driven by market speculation, but the absence of institutional investors means that the market is unstable. /perfectpullquote
Known for his disparaging remarks against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has click here to read poured freezing 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 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 grow against anonymous digital currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.