Bitcoin Approaching Steep Phase of Rally, Analyst Predicts New All-Time Highs

Analyst’s Parabolic Curve Pattern Theory

• Kevin Svenson, a crypto strategist, believes Bitcoin (BTC) is nearing a point in its parabolic uptrend where its value could surge rapidly.
• Svenson explains that Bitcoin is following a textbook parabolic curve pattern and is currently in base three of the pattern.
• He predicts that Bitcoin could double in price from its current level, reaching a target of $90,000, based on the textbook’s suggestion.

Global Liquidity and Bitcoin’s Bullish Trend

• Svenson notes that Bitcoin tends to experience bull markets when global liquidity is rising.
• Currently, Bitcoin is rising despite falling global liquidity levels, indicating potential for further gains if liquidity improves.

Factors Contributing to Bitcoin’s Potential Surge

• Svenson cites several positive factors for Bitcoin, including the upcoming ETF approval, the halving event, and the divergence from global liquidity.
• He believes these factors could contribute to an unexpected surge in Bitcoin’s value, potentially reaching an estimated peak of $142,500.

Disclaimer

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