Bitcoin is on a roll, surging nearly 15% in the past week, and one crypto analyst is predicting even bigger gains are coming.
Analyst Sees Bullish Signal
Kevin Svenson, a popular crypto trader with over 80,000 YouTube subscribers, is bullish on Bitcoin’s future. He points to a technical indicator called the Relative Strength Index (RSI) as a key signal.
“Every time the RSI breaks out on the weekly chart, Bitcoin goes on a huge run,” Svenson says. “We’re seeing that signal again now, and it’s likely to lead to another big rally.”
Bitcoin’s Expansion Phase
Svenson believes Bitcoin is entering an “expansion phase” that could last for months, even years. “This kind of expansion phase can last anywhere from six months to a year,” he explains. “That means we could be looking at gains until at least March 2025.”
New All-Time Highs on the Horizon?
Svenson isn’t shy about predicting new all-time highs for Bitcoin. “Things can change really fast,” he says. “We could see a new all-time high in a day, a week, or even sooner.”
He also points out that Bitcoin’s history suggests strong performance during election years, which could fuel further gains.
Disclaimer: This is just one analyst’s opinion. Always do your own research before investing in cryptocurrencies.
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