Bitcoin’s Price Outlook
Analyst Kevin Svenson is optimistic about Bitcoin’s price, highlighting its recent double-digit rise. He informs his 78,400 YouTube subscribers that Bitcoin is on a parabolic trend starting from Q4 of 2023 and forecasts it to potentially reach $90,000. After hitting this target, Svenson anticipates a correction phase for re-accumulation before a further surge, possibly to six figures within this cycle.
Possible Scenarios
However, Svenson also mentions the possibility that Bitcoin might not reach the $90,000 target and could break the parabolic trend, resulting in a sideways market movement before the next increase.
Current Bitcoin Price
Currently, Bitcoin is trading at approximately $69,992, reflecting a 12% rise over the past week.
Source:
