Analyst and trader Kevin Svenson leans Bullish on Bitcoin (BTC) while the flagship Crypto assets floats above the price of $ 100,000.
Svenson tells Are 82,300 YouTube subscribers that Bitcoin possesses more up -to -date potential despite the Bearish sentiment in the cryptomarket that he attributes to the serious price correction that on some Altcoins in the recent past witnesses.
“It is therefore unnecessary to say that Bitcoin is doing extremely well, despite the sentiment that you may have feel or see on the market.
… we have room to go up in this cycle, it clearly not only started and it will not come to an end either. We are in the middle and we are near the really exciting part. “
The analyst says that based on history, the “really exciting part” of the Bitcoin cycle starts 40 weeks after the halving. The fourth halving event took place on April 19, 2024 and it has been almost 41 weeks since then.
“Forty weeks after the 2012 halving it really became Bullish and the Berenmarkt starts 80 weeks after the 2012 halving.
Switch to Halving 2016 – 40 weeks later it really became Bullish, Beren Market starts 80 weeks after the 2016 halving.
Go here until 2020, things were really bullish until the 40th week in the last cycle, although the Altcoin cycle started in the 40th week, Bitcoin went sideways, but Altcoins became the most bullish at the moment. And then 80 weeks later the Berenmarkt starts. Just like the other cycles. ‘
According to Svenson, the price of Bitcoin could rise to 35% from the current level.
“I think we will probably get a large parabolic swing to a much higher target before this parabolic trend actually ends. So I am very bullish $ 124,000, $ 134,000, $ 142,000 … These prices seem very possible. “
Bitcoin acts at $ 105,023 at the time of writing.
https://www.youtube.com/watch?v=-t5V1CNM5O
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