‘Much Larger Parabolic Expansion Phase’ Incoming for Bitcoin, Says Analyst Kevin Svenson – Here’s the Timeline
Cryptocurrency analyst and trader Kevin Svenson is optimistic about the future of Bitcoin (BTC) and predicts a significant upward trend in the coming weeks and months. Despite the possibility of a correction in the short term, Svenson maintains a bullish outlook on Bitcoin.
According to Svenson, even if there is a rejection during or after the Bitcoin halving scheduled for mid-April, it will ultimately lead to a much larger parabolic expansion phase. He believes that the price of Bitcoin is still at least ten months away from reaching its peak in this cycle.
Svenson plans to scale out at the 40th to 80th week zone, which is expected to occur between January 2025 and October 2025. Regardless of the specific price target, this is where he suggests traders should start scaling out. With over a year to a year and a half of general bull market price action, Svenson expects parabolic expansion into larger parabolas.
Currently, Bitcoin is trading at $52,303, up by approximately 32% from its recent low of $39,505.
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