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Down the street in CNBCs broadcasting room, Sluymer pointed out the series of higher lows which the price of Bitcoin should hold at if the economy remains in a bearish state.
He cautioned that he considers 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.
As well, he also pointed out that Bitcoins RSI was sitting at rather a low level, like the levels seen before preceding temporary movements to the upside seen earlier this year.
The setup is there, but what we need to see is that the token really breakout and move through some very key amounts.
But 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 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 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 costs in 2019 have been indicated by volatility that has made bitcoin price 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 say in 2017.
History generally has a way of repeating itself but bitcoin includes a lot of history that makes it an equivalent 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 expert 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 is still high in many quartersreports of a new survey among British financials suggest a wide majority will buy more coins in expectation of cost resurgence after this year.
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 led by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being very positive about Bitcoin. He predicted that the Bitcoin cost will hit $1 million by 2020 following last years prediction of $7000 which was well surpassed.
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Perfectpullquote alignfull bordertopfalse cite link colour class sizeBTC has accelerated much faster than my model assumptions. I now forecast Bitcoin at $1 million from 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 in addition to a total cryptocurrencys market cap around $162 billion which gives substantial room for growth.
The Swiss-based financial pro will have us brace up for a decade of turbulence before any hope for a stable bitcoin. This article he suggests will coincide with a general acceptance of Bitcoin even in hard-stance China. This though, not as a fiat replacement but a workable alternative.
Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it will 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 to the DotCom bubble of the 90s.
Perfectpullquote alignfull bordertopfalse cite link colour class sizeIn the short term, falls have been driven by emotion and in many cases disinformation a little 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 icy water on hopes of Bitcoin making it to the moon.
Perfectpullquote alignfull bordertopfalse cite link color class sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if were led out 10 years from nowI would see $100 as being much more inclined than $100,000.  Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is dependent on his long-held belief that address governments will grow against anonymous virtual currencies like Bitcoin. Government regulations, according to Rogoff, will pop up the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks along quite different lines.