Alex Dovbnya<\/p>\n
The $40,000 level is a \"big upside target\" for Bitcoin, according to this analyst <\/p>\n
In a recent tweet, Yahoo Finance analyst Jared Blikre says that $40,000 could be a big upside target for Bitcoin, the worlds largest cryptocurrency.<\/p>\n
Blikre explains that the flagship coin has formed a big base at the $20,000 level.<\/p>\n
On Sept. 6, the price of Bitcoin plunged to $18,669, the lowest level since June.<\/p>\n
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%.<\/p>\n
Ads<\/p>\n
Blikre has noted that there is tons of price memory from the $30,000 level and the $60,000 level.<\/p>\n
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.<\/p>\n
On Aug. 15, the price of the largest cryptocurrency surged to $25,212, but bulls failed to maintain the momentum.<\/p>\n
The largest cryptocurrency is currently trading at $21,622, according to data provided by CoinMarketCap.<\/p>\n
The largest cryptocurrency is currently valued at $414 billion.<\/p>\n
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