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

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

As well, he also pointed out that Bitcoins RSI was sitting in quite a low level, like 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 that the token actually breakout and move through some very key amounts.

However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario.  But Sluymer has shared 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 cost go in 2019 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin costs in 2019 have been marked by volatility that 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 as the rollercoaster we state in 2017.

History generally has a means of repeating itself but bitcoin has a lot of background that makes it an equivalent challenge predicting which history will be repeated. It requires more than a study of previous trends to get 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 remains 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 deeper into whos saying what and why, heres a heads-up. Expect much more cost fluctuations in the interim. Its right here going to be a bumpy ride getting to wherever 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 Bitcoin price will hit $1 million by 2020 following past 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'll still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind the limited source of Bitcoin, his prediction considered the variables 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 growth.

The Swiss-based financial expert will have 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 however, not as a fiat replacement click here for more 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 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, falls 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 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 class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been headed out 10 years from nowI will visit $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 such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.