Crypto analyst and trader Kevin Svenson expresses optimism regarding Bitcoin’s price recovery. Svenson indicates that Bitcoin 
$103,538 is ready to break above a descending trend following its recent sideways price movement over the past weeks.
Bitcoin Forecast
In his YouTube channel announcement, Svenson predicts that price movements will accelerate faster than expected after breaking the current trend line. He believes this rapid activity will lead to a significant market rally, pushing Bitcoin prices to higher levels.
According to the analyst, Bitcoin is currently in a parabolic trend, and its next significant price target, once it surpasses its all-time high, is at least $124,000. Svenson points out that Bitcoin’s trend line is becoming increasingly steep, suggesting that if this trend continues, the price could range between $124,000 and $130,000.
“I think the market will move much faster than expectations. This will leave people behind and take us to much higher price levels.” – Kevin Svenson.
At the time of writing, Bitcoin is trading at approximately $104,000, still below its all-time high of around $108,200 reached on December 17, 2024. Svenson also expresses satisfaction with Bitcoin’s increase from the roughly $89,800 level it reached earlier that week.
Future Expectations
Svenson suggests that if Bitcoin maintains its parabolic trend, it could reach a new all-time high above $140,000 by the end of the year. He also foresees a significant drop and sideways movements during the summer months.
The forthcoming developments will largely depend on Trump’s actions regarding cryptocurrency and whether Bitcoin’s increasing appetite can snowball further.
Bitcoin traders are closely monitoring market movements in line with these positive expectations from analysts. Caution is advised in investment decisions.
