Guess what, folks? Kevin Svenson, the crypto wizard with a cool 71,300 subscribers on YouTube, is dishing out his insights on Bitcoin’s future journey. No crystal ball here, just some good old analysis.
So, what’s his secret sauce? Well, he’s got his eyes on the S&P 500, the index that keeps tabs on the big players in the US stock game. According to Svenson, this index is like the wise elder cousin who tips you off before the party starts. In this case, it’s been giving the nod to Bitcoin before it hits a new all-time high.
He throws it back, reminiscing about the good old days – the second halving in 2016. The S&P 500 did a victory lap by breaking its all-time high, and lo and behold, seven months later, Bitcoin followed suit. History repeated itself in the third halving in 2020 – S&P breaks its record, and boom, four months later, Bitcoin does too.
Now, as the S&P 500 casually hangs out just below its all-time high of 4,796 points (reached on January 3rd, 2022), Svenson drops some knowledge. Brace yourselves – he says Bitcoin is less than half a year away, roughly four months, from reclaiming its all-time high. How does he know? Well, if the S&P breaks its all-time high, Svenson thinks it’s a done deal that Bitcoin will do the same dance shortly after. And then? Buckle up, because we might be in for a bull market bonanza, if history is anything to go by.
As of now, the Bitcoin price tag reads $41,425. But hey, who knows what the future holds? According to Svenson, it’s looking like Bitcoin is gearing up for another victory lap – and this time, it’s just a few months away. Time to get those crypto party hats ready!
