Analyst Kevin Svenson is predicting big things for Bitcoin (BTC). He believes the cryptocurrency is poised for a significant price jump, despite some recent dips in other cryptocurrencies (altcoins).
Bitcoin’s Bullish Future
Svenson, who boasts a large YouTube following, points to Bitcoin’s resilience amidst the current market sentiment. He argues that the current price point isn’t the peak, and we’re only nearing the most exciting part of the cycle.
Historical Patterns
Svenson bases his prediction on historical Bitcoin cycles. He notes that 40 weeks after each of the previous Bitcoin halving events (a significant event in Bitcoin’s programming), the price saw a major surge. The last halving was in April 2024, and we’re now about 41 weeks past that point. He observes that a bear market typically follows 80 weeks after the halving.
Price Predictions
Svenson predicts a potential price increase of up to 35% from the current price. He suggests target prices of $124,000, $134,000, and even $142,000 are within reach. At the time of writing, Bitcoin is trading around $105,023.
Disclaimer: This is just one analyst’s opinion. Investing in cryptocurrency is risky, and you should always do your own research before investing.
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