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Down the street in CNBCs broadcasting room, Sluymer pointed out that the number 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 price 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 previous temporary movements to the upside seen before this season.
The installation is there, however, what we need to see is the token actually breakout and continue through some very crucial levels.
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 should 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 price go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices 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. Thus far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we state in 2017.
History generally has a way of repeating itself but bitcoin has a great deal of background which makes it an equivalent challenge predicting which history will be replicated. It requires more than a study of previous trends to get 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 statistics 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 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 where Bitcoin is headed by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very positive about Bitcoin. He predicted that the Bitcoin price will hit $1 next million by 2020 following last years prediction of $7000 that was well surpassed.
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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my model assumptions. I now forecast Bitcoin at $1 million from the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the restricted 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 substantial 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 company website however, not as a fiat replacement but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color 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 job Hedge sees Bitcoin investments as all-too-similar into 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 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 poured freezing water on hopes of Bitcoin making it into the moon.
Perfectpullquote Read More Here alignfull bordertopfalse cite link colour course sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if were headed 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 dependent on his long-held belief that governments will grow against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.