Bitcoin May Cross $40,000 In Next Bull Cycle; Analyst Suggests Optimum Holding Period

The bitcoin price has been on a steady increase since the end of last year, and the price movement over the last few months has been highly optimistic.

The cryptocurrency is presently trading at $3,827 per coin according to CoinMarketCap, having increased close to 50% in value in the previous month. It's at its highest levels since early January, when it surpassed $4,000 per coin.

Bitcoin May Cross $40,000 In Next Bull Cycle; Analyst Suggests Optimum Holding Period

The digital currency may surpass $40,000 in the next bull cycle with a goal of $5,000 by 2022. The expert feels that bitcoin will not be able to hold above this level for long.

On August 1st, 2018 Bitcoin set an all-time high of $4100 per coin on Coinbase but subsequently plunged down to around $3000 and presently stands at approximately $3183 as of press time.

Bitcoin has been trading in the $3,200 region for the preceding several days, and on Sunday night it pushed over $3,400 for the first time since early January. The currency then proceeded to increase on Monday morning, reaching an intraday high of $4,000 before sliding back down to roughly $3,900.

The latest surge appears like it may be short-lived unfortunately, as Bitcoin is already starting to plummet back down below $3,600 today. The currency may possibly sink as low as $2,500 or even lower if there is another selloff beginning shortly.