Believe it or not, Bitcoin price is projected to be US $ 40 thousand, when?

In the midst of the bearish shadow of the crypto market, BTC is starting to get a positive view regarding the potential price increase that will be formed, with certain conditions.

Bitcoin Price Could Be US$40,000

Based on a Watcher News report, Yahoo financial analyst Jared Blikre said that BTC has established a strong base at US$20,000.He considered, the price of Bitcoin could be raised up to US $ 30,000, which if it is successfully passed as well, it will continue to shoot up to US $ 40,000. Conditions for doubling this value is whether or not the price can penetrate US $ 30,000.Jared uses a historical (technical) approach, where he assesses the multiplier increase will occur like the BTC price movement from US $ 30,000 to US $ 60,000 in 2021.

Jared also said that there will be many traders who turn to HODLers when prices return to their initial buying prices who are currently losing on paper.According to him, this is a momentum, which is the main key behind the bullish view he shares.

As of writing, BTC has moved higher than $22,000, in mild gains formed since Saturday (10/9/2022), which was the basis for Analyst confidence earlier this week.The mild increase could indicate investors are still in wait and watch mode, as the US central bank (the Fed) will meet to discuss inflation and interest rates.

If the Fed raises rates again, as before, the financial and crypto markets could be rocked again. Bitcoin's recent rise in price can be lost in a big sell-off.However, since the beginning of this month, there has been hope among investors that the Fed will not do so. That's because there are positive developments in previous economic data, including from the US employment data (NFP). Lets watch.