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Down the road in CNBCs broadcasting space, Sluymer pointed out that the number of higher lows that the cost of Bitcoin should hold at if the market stays in a bearish state.
He cautioned that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins cost movement possibly turning to the upside if 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 year.
The setup is there, but what we need to see is that the token actually breakout and move through some very key levels.
But 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 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 Up to $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices 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. Thus far, 2018 has presented its own surprises although not a dramatic as the rollercoaster we state in 2017.
History generally has a means of repeating itself but bitcoin includes a great deal of background that makes it an equal challenge predicting which history will be repeated. It takes more than a study of previous 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 Resources of a new survey among British financials imply a broad majority will purchase more coins in expectation of price resurgence after this season.
As we delve deeper into whos saying what and why, heres a heads-up. Expect a lot more cost 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 software, is being really optimistic about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following last 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 forecast Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the limited source 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 large room for growth.
The Swiss-based financial pro will have us brace up for a few years 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 color class 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 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 big impactDemand is driven by market speculation, but the absence of institutional investors means 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 into the moon.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin will be worth a tiny fraction of what it is now if had been led out 10 years from nowI would 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 grow against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.