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

He cautioned that he considers that Bitcoin is about to challenge its downtrend, with Bitcoins price movement maybe turning into 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, like the levels seen before preceding temporary movements to the upside seen earlier this year.

The setup is there, however, what we need to see is the token actually breakout and move through some very crucial levels.

But like many analysts, Sluymer had something to say about 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 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 your 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 prices in 2019 have been marked by volatility that has made bitcoin price prediction in short-term a bit of a challenge, even to the experienced analysts. Thus far, 2018 has presented its own surprises though not a dramatic as the rollercoaster we say in 2017.

History generally has a way of repeating itself but bitcoin has a great deal of history which makes it an equivalent challenge predicting which history will be repeated. It requires 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 statistics have very 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 later this year.

As we delve into whos saying what and why, heres a heads-up. Expect much more price fluctuations in the Crypto Programs 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 advice popular McAfee antivirus applications, is being really optimistic about Bitcoin. He predicted that the Bitcoin cost 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 colour class sizeBTC has accelerated much faster than my model assumptions. I now forecast Bitcoin at $1 million by 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 like the increased adoption of Bitcoin and blockchain in addition to a complete cryptocurrencys market cap around $162 billion that gives substantial room for growth.

The Swiss-based financial expert will have 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 however a workable alternative.

Perfectpullquote alignfull bordertopfalse cite link color class sizeIn my opinion, it'll be at least 10 years until we see stability.  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 color class sizeIn 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 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 icy water on hopes of Bitcoin making it to the moon.

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

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Rogoffs prediction is based on his long-held belief that governments will rise 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.