Crypto analyst Kevin Svenson is predicting a bright future for Bitcoin (BTC), forecasting a significant price surge before a potential market correction. He shared his analysis with his YouTube audience.
Bitcoin’s Parabolic Trend: Still Strong
Svenson believes Bitcoin’s parabolic trend is healthy and suggests the cryptocurrency could hit at least $124,000 before a potential correction. He points to a “hammer candle” on the weekly chart as a bullish signal, indicating a possible continuation of the upward trend. Even a further dip, he argues, would still fit within the framework of a parabolic trend.
Base Four and Beyond: The Road to $160,000
According to Svenson, Bitcoin is currently forming “base four” of a parabolic curve pattern. This, he claims, positions BTC for massive gains. He anticipates a significant price increase, potentially doubling from the previous “base three,” leading to a price around $124,000.
The Timeline: A Bull Run Culminating in 2025
Svenson’s prediction outlines a timeline for Bitcoin’s price action. He expects the price to reach approximately $124,000, possibly higher, before a period of consolidation. A final explosive move is anticipated in late 2025, pushing Bitcoin to a cycle peak of roughly $160,000 before the bear market begins. This peak is projected to occur around ten months from his initial prediction.
Current Market Conditions
At the time of writing, Bitcoin is trading at approximately $96,569, showing a 2.2% increase over the past 24 hours.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies./p>
