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

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

As well, he also pointed out that Bitcoins RSI was sitting at rather a low level, similar to the levels seen before preceding temporary movements to the upside seen earlier this year.

The installation 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 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 brief we think you should 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: 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 for the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we say in 2017.

History generally has a means of repeating itself bitcoin includes a lot of background which makes it an equivalent challenge predicting which history will be repeated. It takes more than a study of previous 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 price 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 price resurgence later this season.

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

John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really optimistic about Bitcoin. He predicted that Bitcoin price 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 colour class sizeBTC has accelerated much faster than my version 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 blockchain as well as a total cryptocurrencys market cap around $162 billion that gives large room for expansion.

The Swiss-based financial expert will possess 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 click to read bordertopfalse cite link color course sizeIn my opinion, it'll be at least 10 years before we see stability.  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 remarks against Bitcoin, a former chief economist at the International Monetary Funds (IMF) Kenneth Rogoff has poured freezing water on hopes of Bitcoin making it into the moon.

Perfectpullquote alignfull bordertopfalse cite link colour class sizeI think Bitcoin is going to be worth a tiny fraction of what it is now if were led out a decade from nowI would 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 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.