Bitcoin (BTC) Is Likely To Surge To $400k, According To Prominent Analyst

The recent price action of Bitcoin is confusing many. As the latest crypto news show, Bitcoin (BTC) is up and down on the $4,000 level, not establishing a safe ground but still being stable in the $4,000 waters.

What no one can tell is if this rollercoaster is going to end or if the market will finally get in a bullish scenario. However, according to recent comments from one prominent analyst, Bitcoin‘s price potential is beyond awesome – and BTC has to surge significantly higher in order to reassure embattled crypto investors who have been discouraged by the recent market conditions.

Josh Rager is the name of the popular cryptocurrency trader who made the news recently. In times when Bitcoin is fluctuating above and below the $4,000 mark – he believes that it is the bulls that need to maintain BTC’s stability above $4,000.

“$BTC Weekly Chart. Gandalf is holding $BTC below the mid $4,200 level. Bitcoin shall not pass the current resistance. So my target for the next drop has an aim at previous support near mid $3,500s,” he explained.

https://twitter.com/Josh_Rager/status/1108205671659569152

Another chief market analyst at Think Markets UK named Naeem Aslam, also spoke about the key importance of the $4,000 level, noting that it will set a trend for which direction the markets could head next. As he said:

“Questions are being asked constantly when it comes to Bitcoin’s battle with the $4000 mark. The result of this battle sets the tone for a bullish or bearish trend. This price level has become a matter of death or life for crypto traders.”

Aslam also believes that Bitcoin could eventually surge as high as $400k, even though the current price indicators don’t show that. He explained:

“I personally believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run.”

Another popular figure in the crypto industry named Ryan Selkis, spoke about the absurdity of purchasing a bottom in times when BTC has a massive potential. As he tweeted:

“I’d be extremely surprised if the bottom wasn’t in for this $BTC bear market. If you’ve been on the sidelines, what are you waiting for if not now? If you’re a long-term bull, the 5 year EV is 25-50x, and you’re going to wait to time an entry that’s 20% more attractive?”

https://twitter.com/twobitidiot/status/1108520333039058944