387: BITCOIN COULD SURGE 1,000% AND REACH $170K IF NOVEMBER BREAKS MONTHLY ATH CLOSE SAYS JOSH RAGER!

Bitcoin could surge by up to 10x and reach $170,000 if BTC closes November’s monthly candle at or above $13,880, based on historic performance, according to popular crypto analyst Josh Rager.

Bitcoin has been surging in value in the past month. The impressive performance led to several consecutive yearly records and reaching $16,000 last Friday – the highest BTC price displayed since early January 2018.

Although the cryptocurrency has retraced since its peak and currently trades at about $15,400, the analyst Josh Rager suggested that the asset could soon skyrocket even further.

Rager noted that “every time Bitcoin has closed above the previous monthly all-time high – a 700% to 1,000% uptrend has followed.”

The first similar scenario highlighted in his graph above occurred in 2013. BTC’s January monthly close was around $20, which coincided with the previous monthly high. Shortly after, the primary cryptocurrency spiked to about $150 – or a near 700% increase.

Somewhat identical events transpired on two more occasions in 2014 and during the parabolic price increase of 2017. The latter is also the current benchmark as BTC closed in December at about $13,880.

With Bitcoin’s price hovering above that level now, Rager believes that “November could be the first monthly close that we see breaking the previous high.”

Should his prediction materialize, Bitcoin will find itself in a six-digit price territory. The “modest” 700% increase will take BTC to $120,000, while the 1,000% surge will result in $170,000 per coin.

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