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Down the road in CNBCs broadcasting room, Sluymer pointed out the series of higher lows which the price of Bitcoin should hold at if the economy stays in a bearish state.
He cautioned that he believes that Bitcoin is going to challenge its downtrend, with Bitcoins price movement possibly turning into the upside if it breaks through the current downtrend levels.
Also, he also pointed out that Bitcoins RSI was sitting in rather a low level, similar to the levels seen before previous temporary movements to the upside seen before this year.
The installation is there, however, what we need to see is the token actually breakout and move through some very key levels.
However, like many analysts, Sluymer had something to say regarding the unlikely chance of a worst comes to worst scenario. But Sluymer has still 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 your long exposure.
Bitcoin Price Predictions 2019: Just how high can Bitcoin price 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 cost prediction in short term a bit of a challenge, even to the experienced analysts. So 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 lot of history that makes it an equal 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 figures 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 imply a broad majority will buy more coins in hope of price resurgence after this season.
As we delve deeper 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 wherever Bitcoin is led by the decades end.
John McAfee, Bitcoin supporter and founder of the popular McAfee antivirus applications, is being really positive about Bitcoin. He predicted that the Bitcoin price will hit $1 million by 2020 following past years prediction of $7000 which 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 limited supply of Bitcoin, his prediction considered the variables such as the increased adoption of Bitcoin and blockchain in addition to a total cryptocurrencys market cap around $162 billion which gives large room for growth.
The Swiss-based financial expert will have us brace up for a few years 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 colour class sizeIn my opinion, it'll be at least 10 years until we see equilibrium. 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, 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 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 colour class sizeI think Bitcoin is going to be well worth a tiny fraction of what it is now if had been headed out a decade from nowI would visit $100 as being a lot more likely than $100,000.  Kenneth Rogoff/perfectpullquote
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Rogoffs prediction is more based 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 however a Bitcoin pioneer on Wall Street thinks along very different lines.