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

He reiterated that he considers that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement possibly turning to the upside when 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 preceding temporary movements to the upside seen earlier this season.

The installation is there, but what we need to see is that the token actually breakout and continue through some very crucial levels.

But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario.  But Sluymer has 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 short exposure. I think if youre looking to be long this is where you start adding here to your 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 costs in 2019 have been marked by volatility which has made bitcoin price prediction in short-term a bit of a challenge, even to the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we say in 2017.

History generally has a way of repeating itself bitcoin has a great deal of history 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 now 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 very diverging opinions and bitcoin price predictions for both long and short-term. Optimism is redirected here still high in many quartersreports of a new survey among British financials imply a broad majority will buy Full Article more coins in expectation of cost 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 years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very optimistic about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following last years prediction of $7000 that was nicely surpassed.

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

Aside 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 growth.

The Swiss-based financial pro will have 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 color class sizeIn my opinion, it'll be at least 10 years check before 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 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 little rumor can have a big impactDemand is driven by market speculation, but the absence of institutional investors means that the industry is unstable. /perfectpullquote

Known for his disparaging remarks 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 colour class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were headed out a decade from nowI will see $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 like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.