Cryptocurrency analyst and trader Kevin Svenson says that Bitcoin (BTC) could collect up to 78% of the current level.
In a new strategy session, Svenson tells Are 83,300 YouTube subscribers that a price of $ 190,000 within the empire of the possibility ”for Bitcoin this cycle.
Although $ 190,000 is the highest price target that Svenson says that Bitcoin could reach during this cycle, the analyst says that the most likely level that the crypto king could reach is around 33% above the current price.
“And the middle is the median ideal target $ 142,500. That is a kind of where you can expect that the price of Bitcoin will attack in this cycle.”
According to the Crypto analyst, a rally of a stock market could act as a bullish catalyst for Bitcoin.
“The way I see it, if the S&P 500 can break out in new all-time highlights and through the all-time high, Bitcoin would probably enable at least $ 124,000 to walk and perhaps as high as $ 142,000. So I see this playing.”
When Bitcoin could come out during the current cycle, says Svenson,
“We are here at the house. And this can actually rise all the way to maybe even October … … 80 weeks after every halving is usually where the top comes in and where the Berenmarkt starts … … that for this cycle you end up at the end of October, beginning of November, early November [of this year]. “
Bitcoin acts at $ 107.017 at the time of writing.
https://www.youtube.com/watch?v=BJIEQYUBYWWK
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