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Down the road in CNBCs broadcasting space, Sluymer pointed out the number of higher lows that the cost of Bitcoin must hold at if the economy remains in a bearish state.

He reiterated that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins cost movement maybe turning to the upside if it breaks through the current downtrend levels.

As well, 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 year.

The installation is there, however, what we need to see is that the token actually breakout and move 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 the bullish sentiment with his co-worker, Tom Lee, saying:

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If youre short we think you need to 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 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin costs in 2019 have been indicated by volatility that 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 say 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 repeated. It requires more than a study of past 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 very 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 imply a broad majority will buy more coins in expectation of price resurgence later this year.

As we delve deeper 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 where Bitcoin is led by the decades end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being really optimistic about Bitcoin. He predicted that the Bitcoin i was reading this 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 colour class sizeBTC has quickened considerably 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 limited source 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 large room for growth.

The Swiss-based financial pro 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 however, not as a fiat replacement however a workable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it will be at least 10 years until we see stability.  Kristjan Dekleva (Hedge)/perfectpullquote

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The finance specialist at cryptocurrency project 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 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 freezing water on hopes of Bitcoin making it into the moon.

Perfectpullquote alignfull bordertopfalse cite link color course 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 see $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 virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.