According to Shevelev, Bitcoin Price May Rise to 70 Thousand Dollars in 2021. Bitcoin Artem Shevelev analyst, thinks that the price of Bitcoin could be up to 70 thousand dollars a year thereafter.
Artem Shevelev shared a chart on TradingView and expressed his views on Bitcoin. Evaluating Bitcoin’s performance since 2013, Shevelev divides BTC’s performance in this process into seven main processes . Shevelev believes that if some of these processes are repeated, Bitcoin can fly back.
Shevelev, who examines the course of Bitcoin under seven different titles, draws attention to the end of 2017. In this period, Bitcoin managed to break the resistance, and with the new investors in the market, it reached the level of 20 thousand dollars.
Shevelev’s graphic, Source
After the price of Bitcoin rose up to $ 20 thousand, it started to fall rapidly and declined to the level of $ 3 thousand. But Shevelev thinks that this ascension process in the past years may be repeated. At this point, Shevelev states that the price of Bitcoin could go up to 70 thousand dollars in 2021. Shevelev summarizes the post-2017 period called “Parabolic Rush Phase” as follows:
“Bitcoin broke the resistance in the beginning of 2017 and started to rise. As Bitcoin started to set new records, the number of new investors in the market increased, and the BTC price continued to grow for almost 357 days. Will this process be repeated, will BTC surpass $ 20,000 again? Open to discussion. ”