Bitcoin Optimistic Forecast: BTC Will Surge To $400k, Despite The Recent Price Drops
Just when crypto analysts believed that Bitcoin might be on its way to $10k once again, the price of the digital asset dropped significantly once more.
At the moment of writing this article, Bitcoin is trading in the red, and the coin is priced at $8,740.30.
Despite the many recent price drops for the coin and the high level of volatility that’s present in the crypto market, the optimistic predictions continue.
Bitcoin was able to surpass the important level of $10k more times this year.
Bitcoin to hit $400k
Bitcoin will reportedly hit $400k according to the latest predictions coming from Max Keiser, says Cointelegraph.
This is the very first time when he raises the price target since back in 2012. ‘
He said that his old prediction is too conservative. He’s referring to the one that claimed that Bitcoin would surge to $100k.
During the news information show called Infowars, he said a couple of weeks ago the following:
“I am officially raising my target for Bitcoin — and I first made this prediction when it was $1, I said this could go to $100,000 — I’m raising my official target for the first time in eight years, I’m raising it to $400,000.”
This prediction makes him more bullish that the majority of analysts and Bitcoin supporters.
Even Tim Draper, who is a Bitcoin bull, said that BTC would hit about $250k.
High volume traders are bullish on Bitcoin
Just the other day, it’s been reported that the majority of high volume crypto traders are bullish on Bitcoin, says Binance Futures.
The exchange reports that more than two-thirds of the top traders by account are long on BTC/USDT futures contracts.
Binance stated the following about the subject:
“Binance Futures traders are currently Long BTC/USDT overall on the daily time frame. ‘Top traders’ are defined as the top 20% of traders by margin balance.”
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.