Crypto analyst Kevin Svenson is predicting a big surge in Bitcoin’s price, based on a technical indicator he says is historically accurate.
A Green Light for Bitcoin?
Svenson, who has over 79,000 YouTube subscribers, is pointing to Bitcoin’s Relative Strength Index (RSI). This indicator helps traders understand whether an asset is overbought or oversold.
According to Svenson, the RSI is currently showing a pattern that has previously signaled major bull runs in Bitcoin, lasting at least six months. He believes this is a “reliable signal” that Bitcoin is about to break its all-time high price and continue climbing until at least March.
Altcoins to Follow Bitcoin’s Lead
Svenson also expects other cryptocurrencies (altcoins) to benefit from Bitcoin’s potential surge. He predicts that once Bitcoin hits a new high, altcoins will start to pump, leading to a broader crypto market boom.
Disclaimer
Remember, this is just one analyst’s opinion. It’s important to do your own research and never invest more than you can afford to lose.
