Bitcoin to Hit $400,000 BTC/USD Within the Next 10 Years if Pattern Continues

  • Bitcoin starts June at $8,500 and is currently at above $8,700 after a bit rocky ending of the “bullish” May month
  • BTC forms a technical pattern that occurred only 6 times in its history
  • Only three times ever the Top Goon X visited the lower red zone, last two times resulted in the surge of 5,000%

Despite experiencing instability in the past few days, Bitcoin is maintaining its bullish momentum as it starts June at $8,500 level. The last month tuned out to be the best month in a long time as it registered more than 60 percent gains.

Currently, the world’s top cryptocurrency is trading at $8,734 with 24 hours gains of 1.44 percent.

BTC/USD chart, Source: TradingView

Zooming out and looking at the price of Bitcoin in a one month period, we can see the leading cryptocurrency is in a firm uptrend despite seeing the recent bout of volatility that saw Bitcoin going from $5,300 to the highs of $9,000 only to see a drop of 12 percent.

This bullishness signals that a major uptrend is coming as crypto analyst, Josh Olszewicz took to Twitter to share how the recent technical pattern formed by Bitcoin has occurred only a handful of times.

He points out how 100 EMA/100 SMA crosses only happened 6 times in the entire history of Bitcoin which this time occurred on May 14th.

Bitcoin Trend Reversal and Continuation

According to the momentum based indicator Top Goon X indicator, if the pattern continues, Bitcoin could explode to $400,000 as shared in a recent tweet by cryptocurrency investor and stock trader NebraskanGooner.

While sharing the Bitcoin chart that depicts the parabolic rise of Bitcoin to $400,000 per BTC, crypto analyst NebraskanGooner shares how as shown by the black arrow, the trend reversed with the gains we saw in May month. By breaking above the lower red zone, we got the indication of a shift in the momentum.

This also shows the break in the trendline, shown by the red arrow, that leads to the market hitting the bottom both in 2015 and 2018. Last year, we saw BTC hitting the bottom at $3,150 from where it started surging in 2019. But the bull run got into effect when the surge in April started and further got driven by May’s monster rally.

NebraskanGooner points out how only three times ever the Top Goon X visited the lower red zone. The last two times it happened, Bitcoin gained about 5,000 percent in value once the minimum broke above the zone.

Though, in the short time, Bitcoin could see the drop, in 2021 as the green arrow shows, the uptrend will continue. The analyst further says we are still early in the uptrend and if Bitcoin sees another 5,000 percent rise, we would reach the level of per BTC to be worth $400,000.

Bitcoin’s price is $18,422.45 BTC/USD exchange rate today. The real-time BTC market cap of $341.47 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $9.9 Billion and live coin value change of BTC -0.62 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$18,422.4473 change ~ -0.62%

Coin Market Cap

$341.47 Billion

24 Hour Volume

$9.9 Billion

24 Hour VWAP

$18.45 K

24 Hour Change

$-114.7040

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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