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

He cautioned that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins price movement maybe turning into the upside if it breaks through the current downtrend levels.

Also, he also pointed out that Bitcoins RSI was sitting in rather a low level, like the levels seen before previous temporary movements to the upside seen before this year.

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

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

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If youre short 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 start adding here to your long exposure.

Bitcoin Price Predictions 2019: How high can Bitcoin cost go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin costs in 2019 have been indicated by volatility that 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 although not a dramatic since the rollercoaster we state in 2017.

History generally has a means of repeating itself bitcoin includes a lot of background that makes it an equal challenge predicting which history will be repeated. It takes more than a study of previous trends to acquire 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 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 wide majority will purchase more coins in hope of price resurgence later this year.

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 wherever Bitcoin is led by the decades end.

John McAfee, click to read more Bitcoin supporter and founder of the popular McAfee antivirus software, is being really optimistic about Bitcoin. He predicted that the Bitcoin cost will hit $1 anchor million by 2020 following last years prediction of $7000 that was nicely 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 from 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 in addition to a complete cryptocurrencys market cap around $162 billion which gives substantial room for expansion.

The Swiss-based financial expert will possess 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 though, not as a fiat replacement however a viable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour course sizeIn my opinion, it will be at least 10 years until 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 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 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 color class sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been headed out a decade from nowI would visit $100 as being much more inclined 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 virtual currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on check out here Wall Street thinks along quite different lines.