Cryptocurrency analyst Kevin Svenson, Bitcoin $101,713.0(BTC) has a positive outlook as it remains slightly below its all-time high level reached this week.
Bitcoin’s Parabolic Trend and Rise Expectation
In his latest market assessment, Svenson stated that Bitcoin is in a parabolic trend and has further upside potential before the correction occurs.
“This parabolic trend starts to steepen on larger time frames… But for now, the trend is our friend. “I believe it will continue to rise for a longer time, Bitcoin will once again take a significant upward step in this trajectory.”
According to Svenson, Bitcoin could rise by approximately 19% to 34% from its current level, and this rise could occur before the completion of the parabolic trend that started in early 2023.
“The next sell point for this move is around $124,000 to $140,000, before a significant correction or breakout of the parabolic trend.”
Bitcoin Future Projections
Svenson predicts that Bitcoin’s upward trend may end in the fourth quarter of this year if BTC’s price movements continue, as in 4-year cycles.
“According to my models, the 40th week post-halving – the week that happens very soon – is when the crypto market is most optimistic, lasting for a total of 40 more weeks. So, 80 weeks after the halving, in October 2025, the bull market ends and the bear market begins in almost every cycle.”
At the time of writing this article, Bitcoin is trading at $104,260.
When Bitcoin is evaluated in line with the cycles that occur after the halving event, the beginning of the bear market expected in October 2025 constitutes an important turning point for investors.
Factors that may affect Bitcoin’s future movements include market trends, investor sentiment and global economic developments. Analyst Kevin Svenson’s predictions can play an important role in determining investors’ strategies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
