Crypto analyst Kevin Svenson believes Bitcoin (BTC) could still skyrocket to a six-figure price. He thinks it could reach $124,000 by March and even $142,000 by October.
Bitcoin’s Parabolic Path
Svenson, who has over 80,000 YouTube subscribers, sees a “parabolic trend” in play for Bitcoin. He explains that if BTC breaks through the $94,000 mark, it could trigger a rapid rise to his target prices.
He says, “If it happens early enough, let’s say by March of next year, and then we have a huge correction by the summer of next year and we bounce back and recover, that means by around October of next year, we could hit something like $142,500.”
A Potential Crash?
However, Svenson also warns that after reaching $142,000, Bitcoin could plummet back down to pre-election levels.
Bitcoin’s Recent Performance
Bitcoin is currently trading at $75,867, up 1.8% for the day. It has seen a significant increase since the election, rising from $67,800 the night before.
Remember: This is just one analyst’s opinion. Always do your own research before making any investment decisions.
/p>
