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Down the street in CNBCs broadcasting room, Sluymer pointed out that the number of higher lows that the price of Bitcoin should hold at if the economy stays in a bearish state.

He cautioned that he believes that Bitcoin is about to challenge its downtrend, with Bitcoins price movement maybe turning to the upside if it breaks through the current downtrend levels.

Also, he also pointed out that Bitcoins RSI was sitting at quite a low level, similar to the levels seen before previous temporary movements to the upside seen earlier this season.

The setup is there, but what we need to see is that 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 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 indicated by volatility which has made bitcoin price prediction in short term a small challenge, even for 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 lot of history which 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 this time and so we ended this article by highlighting certain area specialist 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 purchase more coins in expectation of price resurgence after this year.

As we delve deeper into whos saying what and why, heres a heads-up. Expect a lot more cost 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 applications, is being very optimistic about Bitcoin. He predicted that Bitcoin cost 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 color class sizeBTC has accelerated much faster than my version 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 possess us brace up for a few years 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 but a viable alternative.

Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it will be at least 10 years until 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 color class sizeIn you could try these out the short-term, falls 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 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 into 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 had been led out 10 years from nowI would see $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 visit will rise 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 very different lines.