Kevin Svenson, an analyst and trader believes Bitcoin will reach new highs by 2025 if a major trend continues.
Svenson, in a recent strategy session for his 81.880 YouTube subscribers, says that Bitcoin’s parabolic trend suggests the crypto-asset could surge up to $124,000 by June. The asset will then correct itself for several months before making a final, explosive jump at the end of 2025.
The Bitcoin trend parabolic [on the weekly chart] has a strong condition. This is very good. It’s very healthy. It’s back in the green. This looks like an impressive hammer-shaped candle… before the major continuation of the uptrend.
Bitcoin has a significant elevation off of the trendline. This means, that in theory, Bitcoin can dip further, if desired, but it will still represent an exponentially higher low, within a trend. It’s not saying that it will. There’s nothing wrong with my bias, which is that the current trend hasn’t changed much .”
Analysts claim that Bitcoin is in the base 4 of the parabolic curve, which puts BTC at a prime position for a massive gain in an upward movement.
You can see the bases one, two and three. This is base four. We could go a bit lower. It doesn’t matter as long as the low is exponentially higher. That would mean the base four creation. This could be the case. It could be. I can’t think of any reason why it wouldn’t. The next selling point will be the base four.
Svenson also predicts that Bitcoin’s cycle will peak at approximately $160,000 within a period of ten to twelve months.
Bitcoin has risen 2.2% over the past 24 hours to $96,569, at this time.
Subscribe for email alerts to avoid missing a beat
___________________
Please follow us on X.
___________________
Images Can Be Found on Pixabay Creative Commons & Midjourney
The content of this post Crypto Analyst Says BTC Parabolic trend in “Strong Health,” Unveils Timeline End BTC Bull Market could be updated as new information becomes available.
