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

He reiterated that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price 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 rather a low level, similar to the levels seen before preceding temporary movements to the upside seen earlier this year.

The installation is there, however, what we need to see is that the token really breakout and move 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.  But 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 brief exposure. I think if youre looking to be long this is where you start adding here to a long exposure.

Bitcoin Price Predictions 2019: 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 though not a dramatic as the rollercoaster we state in 2017.

History generally has a means of repeating itself bitcoin has a great deal of history that makes it an equal 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 specialist 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 remains high in many quartersreports of a new survey among British financials suggest a broad majority will buy more coins in expectation of cost resurgence later this season.

As we delve into whos saying what and why, heres a heads-up. Expect much check out here more price 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 really optimistic about Bitcoin. He predicted that the 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 colour class sizeBTC has accelerated much faster than my version assumptions. I now predict 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 complete cryptocurrencys market cap around $162 billion that gives large room for expansion.

The Swiss-based financial pro will possess 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 however a workable alternative.

Perfectpullquote alignfull bordertopfalse cite link color class 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 into 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 large impactDemand is driven by market speculation, but the absence of institutional investors means the market 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 class sizeI think Bitcoin will be well worth a tiny fraction of what it is now if had been headed out 10 years from nowI would 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 rise against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble however a Bitcoin pioneer on Wall Street thinks along quite different lines.