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Down the street in CNBCs broadcasting room, Sluymer pointed out that the series of higher lows which the cost of Bitcoin should hold at if the economy remains in a bearish state.
He cautioned that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins price movement maybe turning to the upside when it breaks through the current downtrend levels.
As well, he also pointed out that Bitcoins RSI was sitting in rather a low level, like the levels seen before preceding temporary movements to the upside seen before this year.
The setup is there, but what we need to see is that the token actually breakout and move through some very key amounts.
However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario. But Sluymer has shared 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: 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 that has made bitcoin cost prediction in short-term a small challenge, even to the experienced analysts. So far, 2018 has presented its own surprises although not a dramatic since the rollercoaster we state 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 past trends to acquire 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 statistics have very diverging opinions and bitcoin cost predictions for both long and short term. Optimism remains high in many quartersreports of a new survey among British financials suggest a wide majority will buy more coins in hope of price resurgence after this year.
As we delve deeper 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 dig this popular McAfee antivirus applications, is being very positive 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 quickened considerably faster than my version assumptions. Read Full Article I now forecast Bitcoin at $1 million by the end of 2020. I will still eat my d*** if wrong John McAfee/perfectpullquote
Aside from the economics behind the limited supply of Bitcoin, his prediction considered the factors like the increased adoption of Bitcoin and blockchain as well as a complete cryptocurrencys market cap around $162 billion which gives large room for expansion.
The Swiss-based financial expert will have 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 though, not as a fiat replacement however a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color visit the site 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 specialist at cryptocurrency project Hedge sees Bitcoin investments as all-too-similar to the DotCom bubble of the 90s.
Perfectpullquote alignfull bordertopfalse cite link colour 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 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 freezing water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link color course sizeI think Bitcoin is going to be well 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 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 but a Bitcoin pioneer on Wall Street thinks along very different lines.