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Down the street in CNBCs broadcasting space, Sluymer pointed out that 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 considers 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.
Also, he also pointed out that Bitcoins RSI was sitting in rather a low level, similar to the levels seen before previous temporary movements to the upside seen before this year.
The setup is there, but what we need to see is that the token really breakout and continue through some very crucial amounts.
But like many analysts, Sluymer had something to say regarding 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 brief we think you need to be very careful and reducing your short 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 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 small challenge, even to the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic as the rollercoaster we say in 2017.
History generally has a means of repeating itself but bitcoin has a lot of history which makes it an equivalent challenge predicting which history will be replicated. It takes more than a study of previous trends to get predictions spot-on now and so we ended this article by highlighting certain area expert analysts were looking at. .
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Analysts, enthusiast, and industry statistics 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 imply a broad majority will purchase more coins in hope of price resurgence later this year.
As we delve deeper into whos saying what and why, heres a heads-up. Expect a lot more price fluctuations in the interim. like this Its going to be a bumpy ride getting to where Bitcoin is headed by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really optimistic about Bitcoin. He predicted that the Bitcoin price 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 colour class sizeBTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I'll still eat my d*** if wrong John McAfee/perfectpullquote
Apart from the economics behind the restricted source of Bitcoin, his prediction considered the factors such as the increased adoption of Bitcoin and Learn More blockchain in addition to a total cryptocurrencys market cap around $162 billion that gives large room for expansion.
The Swiss-based financial expert 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 though, not as a fiat replacement but a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it'll 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, drops 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 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 icy 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 were headed out a decade from nowI will visit $100 as being a lot more likely 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 digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.