Experienced cryptocurrency analyst and trader Kevin Svenson shared his expectations for Bitcoin (BTC) with his YouTube subscribers. In a recently published video, despite the potential for short and medium-term corrections, Svenson highlighted the “bullish trend” in Bitcoin and mentioned an inevitable increase in its price trajectory.
Bitcoin’s Rise Inevitable in the Long Term
Svenson predicts that even if Bitcoin experiences a decline during or after the planned block reward halving in mid-April, it will ultimately lead to a significant bullish phase. According to Svenson, any setbacks in the short term will only be temporary obstacles on the path to a larger parabolic growth phase for Bitcoin.
According to Svenson’s analysis, there are at least ten more months until Bitcoin reaches the peak of its cycle. Planning to observe market dynamics and determine when price movements will scale, Svenson is targeting the 40th to 80th week region, which extends from January 2025 to October 2025.
The cryptocurrency analyst views this period as a long bullish market activity and an upward trend period, indicating an expected profitability end zone.
With this projection, Svenson suggests that investors will have approximately one to one and a half years of favorable market conditions, characterized by general bullish trends and expanding parabolic rally models. According to Svenson’s strategy, it is necessary to scale up during this time frame to benefit from Bitcoin’s price increase.
Current State of Bitcoin
At the time this article was prepared, Bitcoin is trading around $52,000, indicating a significant increase of about 32% from 2024’s lowest level of approximately $39,505. This rise in Bitcoin’s price is consistent with Svenson’s bullish outlook and reflects the ongoing positive sentiment surrounding the largest cryptocurrency.
