Bitcoin might surge up to $400,000 by end of 2021

03 May, 2019 | Updated: 03 May, 2019
by Joeri Cant
Bitcoin
Bitcoin might surge up to $400,000 by end of 2021

Today Bitcoin reached a new 2019 all-time-high and crossed the $100 billion market cap for the first time since November 2018, and according to some analysts, BTC is well on its way to the $400,000 price mark.

Bitcoin saw a rise of 7% today, reaching a new 2019 all-time high, and is currently trading at around $5,763.

Bitcoin's price uptick seems to be a purely technical one and could be a sign that Bitcoin is ready to leave the bear market far behind itself, which evoked many bold claims about BTC reaching new ATHs.

Popular crypto trader Galaxy is now suggesting that history seems to be repeating itself and that by the end of 2021, we could see Bitcoin's price surge to $330,000.

Another well-known crypto trader, going by the Twitter handle Scarface, came forward with similar predictions, stating that in the case that BTC repeats its previous patterns of a crash and then a parabolic rise, the next all-time-high might be between $102,000 and $336,000.

'Roll the dice & take the risk - Buy Bitcoin', he tweets.

In March Chepicap reported that Naeem Alsam, Chief market analyst at Think Markets, columnist at Forbes, and crypto enthusiast, said that he personally believes that each Bitcoin can go up as much as $400K.

'I personally believe that each Bitcoin can go up to 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', he said at the time.

Everything seems to point to the start of a new 4-year market cycle for Bitcoin, which Chepicap discussed last week, and the current pattern that we are observing seem to confirm that we indeed have started a new 4-year cycle.

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Read more about: Bitcoin (BTC)

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