Based on historical trend patterns, the cryptocurrency analyst predicts that Bitcoin could hit a staggering high of $400,000. This ambitious price target would require Bitcoin to jump more than 6 times its current price, which would represent a historic milestone as the cryptocurrency’s market capitalization would exceed $7 trillion.

Bitcoin’s power law indicates an boost of $400,000

Bitcoin price dynamics indicate a potential bullish rally as the cryptocurrency continues to hold its price above key resistance levels around $60,000. According to Cryptocurrency analyst Ali Martinez, broader cryptocurrency market sentiment moved back to “greed” following the recent surge in Bitcoin price to $64,750.

Given Movements in the Bitcoin marketMartinez maintained his positive outlook for the cryptocurrency. He revealed this in a recent X (formerly Twitter) post that Bitcoin’s price could potentially skyrocket to $400,000 if the Bitcoin power law holds true.

Bitcoin’s power law is the mathematical relationship between Bitcoin price and time. This law provides that the price Bitcoin will rise to $100,000 between 2021 and 2028, with a firm assurance that in 2028 the value of the cryptocurrency will never fall below $100,000. Additionally, the law also predicts that Bitcoin’s price will reach $1 million per coin sometime between 2018 and 2037, establishing that after 2037 the price will never fall below $1 million.

In his post, Martinez revealed what he predicted would be a $400,000 price jump Another peak of the cryptocurrency marketsurpassing the current March all-time high of over $73,000 by approximately 440%. He built on this ambitious price projection not only on the long-term law of Bitcoin’s strength, but also on historical market trends.

Martinez presented a historical chart of Bitcoin prices since 2011, forecasting that the timeline for the projected $400,000 price boost could occur in 2025. The analyst also identified three key price levels for Bitcoin: the price of $392,532 as the resistance level, with support identified at 37 $146 and the linear regression is around $104,693.

While several crypto members See Martinez’s $400,000 Bitcoin prediction was painted in a positive lightweight, others also remained skeptical doubting the possibility of such a dramatic boost or suggestion that a more realistic goal is for prices to boost between $160,000 and $200,000.

BTC will leave bearish trends behind

Bitcoin price remains at steady upward momentum over the last few weeks. According to CoinMarketCap data, Bitcoin rose above $64,000 this week, representing a 2.88% boost in its price.

Given the cryptocurrency’s recent price increases, cryptocurrency analyst Jelle does decided that the Bitcoin market structure is on the verge of exiting the bearish trend completely turns bullish. He revealed that the pioneering cryptocurrency is already locked at two higher lows and is close to hitting a higher high.

As a result of these events, Jelle predicted that Price: $65,000 was the key resistance level to break, indicating that: potential growth to fresh highs since then.

Featured image created with Dall.E, chart from Tradingview.com