Cryptocurrency analyst and trader Kevin Svenson is sharing his predictions for Bitcoin (BTC) in the upcoming weeks and months.
In a recent video addressed to his 72,200 YouTube subscribers, Svenson maintains a “bullish bias” on Bitcoin’s future trajectory. He suggests that Bitcoin is poised for significant growth, even in the face of potential short to medium-term corrections.
“Even if we do get rejection during or after the [Bitcoin] halving, ultimately I think it’s just going to lead to a much larger parabolic expansion phase.”
The Bitcoin halving is scheduled for mid-April.
Kevin Svenson/YouTube
Svenson suggests that Bitcoin’s price is still at least ten months from reaching the peak of its current cycle.
“I’ll just let the market decide what the price target is, where the peak is and I’ll be looking to scale out at the 40th to 80th week zone which is going to be January of 2025 to October of 2025. That is the expected profit end zone – October of 2025.
So no matter where that is, that is the target area. That’s where you want going to be scaling out. Which means we have over a year, about a year to a year and a half of general bull market price action, general uptrends. You know, parabolas expanding into larger parabolas.”
At the time of writing, Bitcoin is trading at $52,303, marking an increase of approximately 32% from its 2024 low of around $39,505.
