This ambitious price target would require Bitcoin to jump over 6X its current price, marking a historical milestone, as the cryptocurrency’s market capitalization would surpass $7 trillion. Bitcoin Power Law Points To $400,000 Increase Bitcoin’s price dynamics have been hinting at a potential bullish surge, as the cryptocurrency has steadily maintained a price above crucial resistance levels around $60,000.
The analyst also identified three crucial price levels for Bitcoin: $392,532 price mark as a resistance level, with support identified at $37,146 and linear regression fit around $104,693. While a few crypto members see Martinez’s $400,000 Bitcoin projection in a positive light, others have remained skeptical, either doubting the possibility of such a dramatic surge or suggesting that a price increase between $160,000 and $200,000 was a more realistic target. BTC To Leave Bearish Trends Behind The price of Bitcoin has been on a steady upward momentum over the past few weeks.
According to data from CoinMarketCap, Bitcoin rose above $64,000 this week, marking a 2.88% increase in its price. Given the cryptocurrency’s recent price surges, crypto analyst, Jelle has declared that Bitcoin’s market structure is inches away from leaving a bearish trend and completely turning bullish.
The story "Historical Trends Put Bitcoin At $400,000 With Shocking Timeline" has 485 words across 62 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Historical Trends Put Bitcoin At $400,000 With Shocking Timeline" was covered 12 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 9 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
