A few days ago, Bitcoin updated the annual maximum, rising above $ 5,800. Some analysts have already stated that Bitcoin is preparing for the campaign to the level of $ 400,000.
Today, "digital gold" on most exchanges is trading at about $ 5,700. Market capitalization exceeded $ 100 billion, and daily trading volume is more than $ 14 billion.
Observing structure similarities between the monthly candles of October 2015 and April 2019.— Galaxy (@galaxyBTC) May 1, 2019
October 2015 marked the start of most significant bull run in BTC history after a 6500% price surge in 2 years.
Another similar bull run puts BTC at over $330K/coin, by the end of 2021. pic.twitter.com/KTCRLd8jRH
The increase in quotations is not associated with any fundamental indicators or news, so we can conclude that this is a purely technical movement, which may indicate the potential of Bitcoin to finally get out of the bearish cycle in which he was more than a year. Against this background, many positive statements have already appeared.
For example, the popular cryptocurrency trader Galaxy provided a logarithmic graph already known to many, according to which the price of the first cryptocurrency at the end of 2021 would be about $ 330,000.
"If Bitcoin will repeat the movement that was from October 2015 to April 2019, by the end of 2021 it will cost more than $ 330,000," said the trader.
Another well-known trader is also considering the option of repeating parabolic growth, according to which the next maximum can be between $ 102,000 and $ 336,000. He advises everyone to buy Bitcoin.
In March, Chief Market Analyst Think Markets and Forbes columnist also noted that he believes in the growth of Bitcoin to $ 400,000.
It seems that many famous personalities in the cryptocurrency community are confident that the price is now at the stage of the birth of a new bull cycle, which will lead Bitcoin quotes to five-digit numbers.