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Down the road in CNBCs broadcasting room, Sluymer pointed out the number of higher lows which the cost of Bitcoin should hold at if the economy remains in a bearish state.

He reiterated that he considers 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.

Also, he also pointed out that Bitcoins RSI was sitting in quite a low level, similar to the levels seen before preceding temporary movements to the upside seen before this year.

The setup is there, however, what we need to see is that 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 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 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 As much as $1 million or down to $100 (In-Depth Analysis)

Bitcoin costs 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. Thus far, 2018 has presented its own surprises although 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 which makes it an equivalent challenge predicting which history will be replicated. 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 expert analysts were looking at. .

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Analysts, enthusiast, and industry figures 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 purchase more coins in expectation of price resurgence after this season.

As we delve into whos saying what and why, heres a heads-up. Expect much more price fluctuations in the interim. Its going to be a bumpy ride getting to where 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 the Bitcoin cost will hit $1 million by 2020 following last years prediction of $7000 that was nicely surpassed.

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Perfectpullquote alignfull bordertopfalse cite link color class sizeBTC has accelerated much faster than my version assumptions. I now predict 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 restricted supply of Bitcoin, his prediction considered the variables 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 pro will have us brace up for a decade of blog 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 viable 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 colour class sizeIn the short-term, drops 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 discover here absence of institutional investors means 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 icy water on hopes of Bitcoin making it to the moon.

Perfectpullquote alignfull bordertopfalse cite link colour course sizeI think Bitcoin will be worth a tiny fraction of what it is now if were headed out 10 years from nowI would see $100 as being much more inclined than $100,000.   Kenneth Rogoff/perfectpullquote

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Rogoffs explanation prediction is based on his long-held belief that governments will rise against anonymous digital currencies such as Bitcoin. Government regulations, according to Rogoff, will pop the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.