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Down the street in CNBCs broadcasting room, Sluymer pointed out that the number of higher lows that the price of Bitcoin must hold at if the market remains in a bearish state.

He cautioned that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price movement possibly turning to 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 earlier this season.

The setup is there, but what we need to see is the token actually breakout and move through some very key levels.

However, like many analysts, Sluymer had something to say about the unlikely chance of a worst comes to worst scenario.  But Sluymer has still 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 indicated by volatility which has made bitcoin price prediction in short term a small challenge, even for 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 includes a lot of background that makes it an equivalent challenge predicting which history will be replicated. It takes more than a study of past trends to acquire 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 price predictions for both long and short term. Optimism is still high in many quartersreports of a new survey among British financials imply a wide majority will purchase more coins in expectation of cost resurgence after this season.

As we delve deeper 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 wherever Bitcoin is headed by the years end.

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus software, is being very positive about Bitcoin. He predicted that Bitcoin price will hit $1 million by 2020 following past years prediction of $7000 which 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 forecast 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 factors like the increased adoption of Bitcoin and blockchain as well as a complete continue reading this cryptocurrencys market cap around $162 billion which 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 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 however a viable alternative.

Perfectpullquote alignfull bordertopfalse cite link color course sizeIn my opinion, it'll be at least 10 years before we see equilibrium.  Kristjan Dekleva (Hedge)/perfectpullquote

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The finance expert 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 little 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 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 color class sizeI think Bitcoin will be worth a tiny fraction of what it is now if were headed out 10 years 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 Visit This Link his long-held belief that governments will grow against anonymous digital currencies like Bitcoin. Government regulations, according to Rogoff, see it here will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along very different lines.