Cryptocurrency analyst Kevin Svenson is optimistic about Bitcoin as it approaches its recent all-time high. In a video for his 82,200 YouTube subscribers, he describes Bitcoin’s current trend as parabolic, indicating it may rise significantly before any potential correction. Svenson estimates that Bitcoin could increase between 19% and 34% from its current price of $104,260, possibly reaching levels between $124,000 and $140,000 before a notable decline. He predicts that if Bitcoin follows past trends, this bull run could continue into the fourth quarter of this year, with a bear Market possibly starting in October 2025, 80 weeks after the halving.
Cryptocurrency analyst Kevin Svenson has recently shared a bullish outlook on Bitcoin, suggesting that the flagship digital asset may have more upward potential. As Bitcoin hovers near its all-time high, Svenson believes it is on a parabolic trend that could lead to significant price gains before any potential corrections.
In his latest video to over 82,000 subscribers, Svenson emphasizes that Bitcoin’s price action indicates a strong upward momentum. He notes, “This parabolic trend is starting to go vertical on the larger time scales. For now, the trend is our friend, and I believe we are going higher for longer.” He predicts that Bitcoin could experience further gains of between 19% and 34%, potentially reaching prices between $124,000 and $140,000 before facing a major correction.
Svenson also highlights the historical context of Bitcoin’s cycles, stating that roughly 40 weeks following the latest halving event could see an optimistic Market phase. According to his analysis, if Bitcoin’s pattern aligns with past trends, the price rally may continue until late 2025, when a bear Market typically begins.
Currently, Bitcoin is trading around $104,260 and many investors are watching closely to see how these predictions unfold.
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Tags: Bitcoin news, cryptocurrency, Kevin Svenson, Bitcoin price prediction, parabolic trend
What does “We’re Going Higher for Longer” mean for Bitcoin?
This phrase suggests that Bitcoin’s price is expected to rise and stay at higher levels for an extended period. Analysts believe positive factors in the Market will drive this trend.
What are the major factors driving Bitcoin’s price up?
Factors include increased adoption of Bitcoin, strong institutional investment, and overall improvements in the cryptocurrency Market. These elements create a more favorable environment for Bitcoin’s growth.
What is the target price for Bitcoin according to the analyst?
The analyst forecasts that Bitcoin could reach significant new highs in the coming months. While exact figures vary, many believe it could exceed previous record prices.
Should I invest in Bitcoin now?
Investing in Bitcoin can be risky, and it’s essential to do your research first. Consider your financial situation and consult with a financial advisor before making any decisions.
How can I stay updated on Bitcoin’s movements?
You can follow cryptocurrency news sites, Market analysis platforms, and social media feeds dedicated to Bitcoin. Staying informed will help you understand Market trends and make better investment choices.
