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Down the road in CNBCs broadcasting space, Sluymer pointed out the number of higher lows that the price of Bitcoin should 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 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 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, however, what we need to see is that the token really breakout and continue through some very crucial levels.
However, like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario. However, 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 start adding here to your long exposure.
Bitcoin Price Predictions 2019: Just how high can Bitcoin cost 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 price prediction in short term a bit of a challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we say in 2017.
History generally has a way of repeating itself but bitcoin has a lot of background that makes it an equal 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 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 purchase more coins in expectation of cost resurgence later this year.
As we delve into whos saying what and why, heres a heads-up. Expect a lot more cost fluctuations in the interim. Its going to be a bumpy ride getting to where Bitcoin is led by the years end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very 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 color class sizeBTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by 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 in addition to a complete cryptocurrencys market cap around $162 billion that gives substantial room for expansion.
The Swiss-based financial expert 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 though, not as a fiat replacement but a viable alternative.
Perfectpullquote alignfull bordertopfalse cite link colour course 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 color class sizeIn the short-term, falls have been driven by emotion and in many cases disinformation a small rumor can have a go to this website large Home Page impactDemand is driven by market speculation, but the absence of institutional investors means the industry 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 course sizeI think Bitcoin will be worth a tiny fraction of what it is now if were led 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 dependent 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 quite different lines.