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Down the street in CNBCs broadcasting space, Sluymer pointed out the series of higher lows that the price of Bitcoin should hold at if the economy remains in a bearish state.

He cautioned 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 preceding temporary movements to the upside seen before this season.

The setup is there, but what we need to see is the token really breakout and move through some very crucial amounts.

But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario.  However, Sluymer has 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 get started adding here to your long exposure.

Bitcoin Price Predictions 2019: Just how high can Bitcoin cost go in 2019 Up to $1 million or down to $100 (In-Depth Analysis)

Bitcoin prices in 2019 have been indicated by volatility that has made bitcoin price prediction in short term a small 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 way of repeating itself but bitcoin has a lot of background that makes it an equivalent challenge predicting which history will be repeated. It takes more than a study of past trends to acquire 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 figures have quite 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 suggest a wide majority will buy more coins in expectation of cost resurgence later this season.

As we delve into whos saying what and why, heres a heads-up. Expect much more cost fluctuations in the interim. Its going to be a bumpy ride getting to wherever Bitcoin is led by the decades end.

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

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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has quickened considerably 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

Aside from the economics behind the restricted source 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 that gives large room for growth.

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'll be at least 10 years until we see stability.  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 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 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 icy water on hopes of Bitcoin making it to the moon.

Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if had been headed out a decade from nowI would see $100 as being a lot 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 official website Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.