Analyst Kevin Svenson is predicting a Bitcoin price surge to $100,000, outlining two possible scenarios. He shared his outlook with his large YouTube following.
Two Paths to $100,000 Bitcoin
Svenson’s bullish prediction hinges on Bitcoin’s ability to hold above a key support level. He sees two main scenarios:
Scenario 1: Smooth Sailing
If Bitcoin stays above its current upward trendline, Svenson believes a price increase to $100,000 is likely by the New Year. He anticipates a possible minor dip after Thanksgiving, but overall, the trend is positive.
Scenario 2: A Minor Dip First
If Bitcoin drops to the 0.382 Fibonacci retracement level (around $87,500), a slight delay is possible. Even in this case, Svenson still expects Bitcoin to reach $100,000 by the end of December or early January.
Recent Dip is “Nothing”
Svenson downplayed the recent 9% correction in Bitcoin’s price, calling it a “shallow retrace” and a typical Monday market fluctuation. He emphasized the overall strength of the market and the continued demand for Bitcoin.
Disclaimer: This is not financial advice. Any investment decisions should be made after careful consideration and consultation with a financial professional.
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