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

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

Also, he also pointed out that Bitcoins RSI was sitting at quite a low level, like 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 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 still shared the bullish sentiment with his co-worker, Tom Lee, saying:

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If youre brief we think you should 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: Just how high can Bitcoin cost 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 cost prediction in short term a bit of a 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 bitcoin has a lot of history which makes it an equivalent challenge predicting which history will be repeated. It requires more than a study of previous trends to acquire 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 very diverging opinions and bitcoin cost predictions for both long and short-term. Optimism is still high in many quartersreports of a new survey among British financials suggest a wide majority will buy more coins in expectation of price resurgence after this year.

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 led by the he said years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very optimistic about Bitcoin. He predicted that Bitcoin cost 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 color class sizeBTC has accelerated much faster than my version assumptions. I now predict Bitcoin at $1 million from the end of 2020. Continue 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 variables like the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives substantial room for expansion.

The Swiss-based financial pro will possess 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 viable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour 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 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 Get the facts of institutional investors means the market 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 color course sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if were led out a decade from nowI will visit $100 as being much more inclined 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 the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.