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Crypto analyst Kevin Svenson maintains a positive outlook on Bitcoin (BTC) 
$111,348, as it fluctuates slightly below its all-time high reached this week.
Bitcoin’s Parabolic Trend and Bullish Expectations
In his latest market assessment, Svenson notes that Bitcoin is within a parabolic trend, suggesting significant upward potential before any corrections occur.
“This parabolic trend is beginning to steepen in larger time frames… For now, the trend is our friend. I believe it will continue to rise for a longer period, and Bitcoin will take another significant upward step on this trajectory.”
Svenson estimates that Bitcoin could climb approximately 19% to 34% from its current level, possibly before the completion of the parabolic trend that began earlier in 2023.
“The next sell point for this movement is expected to occur between approximately $124,000 and $140,000, before a significant correction or break in the parabolic trend.”
Future Projections for Bitcoin
Svenson foresees that if BTC’s price movements continue in four-year cycles, the upward trend may conclude in the fourth quarter of this year.
“According to my models, the 40th week post-halving – which is happening very soon – is the time when the crypto market is most optimistic, lasting a total of 40 weeks. Therefore, 80 weeks after halving, in October 2025, the bullish market ends and the bearish phase begins in almost every cycle.”
At the time of writing, Bitcoin is trading at approximately $104,260.
Considering the cycles formed after the halving event, the anticipated start of the bear market in October 2025 represents a significant turning point for traders.
Factors that could influence Bitcoin’s future movements include market trends, investor sentiment, and global economic developments. Kevin Svenson’s predictions could play a crucial role in shaping traders’ strategies.
