Bitcoin to $40,000? Analyst Explains Why This Might Happen

Sun, 09/11/2022 - 18:33
Alex Dovbnya
The $40,000 level is a "big upside target" for Bitcoin, according to this analyst
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In a recent tweet, Yahoo Finance analyst Jared Blikre says that $40,000 could be “a big upside target” for Bitcoin, the world’s largest cryptocurrency.

Blikre explains that the flagship coin has formed a big base at the $20,000 level.

On Sept. 6, the price of Bitcoin plunged to $18,669, the lowest level since June.

However, bulls managed to step in to save the day. Over the past five days, the price of the leading cryptocurrency has surged by roughly 18%.

Blikre has noted that there is “tons” of price memory from the $30,000 level and the $60,000 level.

If the Bitcoin price does reclaim some of the bullish targets, it remains to be seen how many traders-turned-HODLers will be tempted to take profits.

On Aug. 15, the price of the largest cryptocurrency surged to $25,212, but bulls failed to maintain the momentum.

The largest cryptocurrency is currently trading at $21,622, according to data provided by CoinMarketCap.

The largest cryptocurrency is currently valued at $414 billion.   

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at