Bitcoin analyst Kevin Svenson believes the cryptocurrency could be on the verge of a massive surge, potentially reaching new all-time highs. He points to two key factors: the stock market and global money supply.
The Stock Market and Money Supply
Svenson says the recent stock market performance and global liquidity are hinting at a possible Bitcoin rebound. The S&P 500, a major stock index, is close to its all-time high after a recent dip, and the global money supply is showing signs of increasing. This suggests that investors are becoming more optimistic about the economy, which could benefit Bitcoin.
Bitcoin’s Historical Pattern
Svenson also highlights Bitcoin’s historical performance following halving events. Halving refers to a reduction in the rate at which new Bitcoins are created. In the past, Bitcoin has typically seen a surge in price a few months after a halving event. The last halving occurred in 2024, and Bitcoin has yet to break out into new all-time highs. Svenson believes this could happen soon, based on past trends.
Bitcoin’s Current Price
Bitcoin is currently trading at around $60,943. While the market is volatile, Svenson remains optimistic about Bitcoin’s future, saying “Things are looking perfect right now for Bitcoin despite the volatility. We’re doing good.”
Disclaimer: This information is for general knowledge and does not constitute financial advice. Always do your own research before investing in any cryptocurrency.
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