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

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

As well, he also pointed out that Bitcoins RSI was sitting at rather a low level, like the levels seen before previous temporary movements to the upside seen earlier this season.

The installation is there, but what we need to see is the token actually breakout and continue through some very key levels.

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

Bitcoin Price Predictions 2019: Just 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 for the experienced analysts. So far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we say in 2017.

History generally has a means of repeating itself bitcoin has a lot of history which makes it an equal challenge predicting which history will be replicated. 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 specialist analysts were looking at. .

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Analysts, enthusiast, and industry statistics have very diverging opinions and bitcoin price 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 purchase more coins see here in expectation of cost resurgence after this season.

As we delve into whos advice saying what and why, heres a heads-up. Expect a lot more price fluctuations in the interim. Its 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 really optimistic about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following last 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 version 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 variables like the increased adoption of Bitcoin and blockchain in addition to a complete cryptocurrencys market cap around $162 billion which gives substantial room for expansion.

The Swiss-based financial pro 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 but a workable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it'll be at least 10 years before we see equilibrium.  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 color class sizeIn the short term, drops 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 icy water on hopes of Bitcoin making it to the moon.

Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin will be worth official statement a tiny fraction of what it is now if had been headed out 10 years from nowI would visit $100 as being a lot more inclined than $100,000.   Kenneth Rogoff/perfectpullquote

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Rogoffs prediction is based on his long-held belief that governments will rise against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.