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

He cautioned that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement possibly turning to the upside when it breaks through the current downtrend levels.

Also, 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 year.

The installation is there, however, what we need to see is that the token really breakout and move through some very crucial 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 with 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 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 small challenge, even for the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we state in 2017.

History generally has a means of repeating itself but bitcoin has a lot of history that makes it an equivalent challenge predicting which history will be repeated. It takes 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 quite 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 imply a broad majority will buy more coins in expectation of price resurgence after this season.

As we delve 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 headed by the years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really positive about Bitcoin. He predicted that Bitcoin cost will hit $1 million by 2020 following last years prediction of $7000 which was nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my version assumptions. I now predict Bitcoin at $1 million from the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote

Apart from the economics behind the restricted source of Bitcoin, his prediction considered the variables 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 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 try these out hard-stance China. This though, 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 expert at cryptocurrency job 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, falls have been driven by emotion and in many cases disinformation a small rumor can have a large impactDemand is driven by market speculation, but the absence of institutional investors means that 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 into the moon.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if were headed out 10 years from nowI will visit $100 as being much more likely than $100,000.   Kenneth Rogoff/perfectpullquote

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Rogoffs prediction is based on his long-held belief that governments will grow 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.