Bullish Outlook
Analyst Kevin Svenson believes Bitcoin (BTC) is on a parabolic trend that could lead to a surge to $90,000. He predicts a potential correction after reaching this target, followed by a further rally that could push Bitcoin to six figures.
Re-Accumulation Phase
Svenson explains that a correction around $90,000 would allow for healthy price action and re-accumulation by new investors. This would create a solid foundation for a subsequent rally.
Possible Deviation
While Svenson is bullish, he acknowledges that Bitcoin could deviate from his predictions. It’s possible that the trend could break below $90,000, leading to a period of sideways movement before another surge.
Current Price
As of writing, Bitcoin is trading at $69,992, up 12% over the past week.
