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Down the road in CNBCs broadcasting space, Sluymer pointed out that the series of higher lows which the price of Bitcoin must hold at if the market remains in a bearish state.

He reiterated that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins cost movement possibly turning to 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 earlier this year.

The setup is there, but what we need to see is the token actually 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 still shared the bullish sentiment with his co-worker, Tom Lee, saying:

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If youre brief 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 your long exposure.

Bitcoin Price Predictions 2019: 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 indicated by volatility that has made bitcoin cost prediction in short-term a small challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic since the rollercoaster we state 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 repeated. It takes more than a study of past trends to get 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 price predictions for both long and short term. Optimism remains high in many quartersreports of a new survey among British financials imply a wide majority will buy more coins in hope of price resurgence later this year.

As we delve deeper into whos saying their explanation 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 decades 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 that was well surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my model 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 limited source of Bitcoin, his prediction considered the variables such as the increased adoption of Bitcoin and blockchain as well as a total cryptocurrencys market cap around $162 billion which gives large room for growth.

The Swiss-based financial pro will possess us brace up for a decade 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 workable alternative.

Perfectpullquote alignfull bordertopfalse cite link colour course sizeIn my opinion, it will be at least 10 years until we see stability.  Kristjan Dekleva (Hedge)/perfectpullquote

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The finance specialist 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, falls 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 the industry 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 color class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if were led out 10 years from nowI will visit $100 as being a lot more inclined why not find out more 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 like Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along very different lines.