Crypto analyst Kevin Svenson is betting big on Bitcoin (BTC). He believes the cryptocurrency is poised for another significant price jump.
Bitcoin’s Parabolic Trend
Svenson, who boasts over 82,000 YouTube subscribers, sees Bitcoin currently in a parabolic upward trend. He’s confident this trend will continue before a correction. In his view, “the trend is our friend,” and Bitcoin is headed much higher.
Price Target: $124,000 – $140,000
Svenson predicts Bitcoin could climb by 19% to 34% from its current price before the parabolic trend ends. He specifically targets a price range of $124,000 to $140,000 before a major correction hits.
The Bull Run’s End?
While bullish in the short term, Svenson also offers a timeline for the end of this bull run. Based on his models and past four-year cycles, he anticipates the peak sometime in the fourth quarter of this year. He points to historical data showing that 80 weeks after the Bitcoin halving, a bear market typically begins. This puts the potential bear market start around October 2025.
Note: Bitcoin’s price at the time of writing this was approximately $104,260. This information is for general knowledge and does not constitute financial advice. Always conduct thorough research before making any investment decisions.
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