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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 must hold at if the market stays in a bearish state.
He reiterated that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price movement possibly turning to the upside when it breaks through the current downtrend levels.
As well, he also pointed out that Bitcoins RSI was sitting at quite a low level, like the levels seen before preceding temporary movements to the upside seen earlier this season.
The setup is there, but what we need to see is that the token really breakout and continue through some very key amounts.
But like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. However, 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 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 As much as $1 million or down to $100 (In-Depth Analysis)
Bitcoin prices in 2019 have been marked by volatility which has made bitcoin cost 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 since the rollercoaster we say in 2017.
History generally has a way 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 acquire 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 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 suggest a broad majority will buy more coins in hope of cost 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. 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 very 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 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 in addition to a total cryptocurrencys market cap around $162 billion that gives large room for growth.
The Swiss-based financial expert will possess 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 though, not as a fiat replacement but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn my opinion, it will be at least 10 years before we see equilibrium. article source 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 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 freezing water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if had been headed out a decade from nowI would see $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 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.