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Down the street in CNBCs broadcasting space, Sluymer pointed out that the series of higher lows which the price of Bitcoin should hold at if the economy stays in a bearish state.
He cautioned that he believes that Bitcoin is going 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 at quite a low level, like the levels seen before preceding temporary movements to the upside seen before this year.
The setup is there, but what we need to see is the token really breakout and move through some very key amounts.
However, 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 brief exposure. I think if youre looking to be long this is where you start adding here to a 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 indicated by volatility which 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 bitcoin has a lot of history which makes it an equivalent challenge predicting which history will be replicated. It requires more than a study of previous trends to acquire 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 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 buy more coins in hope of cost resurgence later this season.
As we delve deeper 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 headed by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really positive about Bitcoin. He predicted that the Bitcoin cost 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 color class sizeBTC has accelerated much faster than my model assumptions. I now predict 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 restricted supply of Bitcoin, his prediction considered the factors such as the increased adoption of Bitcoin and blockchain as well as a complete cryptocurrencys market cap around $162 billion that gives substantial room for growth.
The Swiss-based financial expert 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 however, not as a fiat replacement however a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour course sizeIn my opinion, it will be at least 10 years before we see equilibrium. 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 color 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 you can check here by market speculation, but the absence of institutional investors means that the market 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 colour site web class sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if were led out 10 years from nowI will see $100 as being a lot more likely than $100,000. Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is dependent on his long-held belief that governments will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.