Rally

Bitcoin ETF

Bitcoin

Kevin

Threshold

Kevin Svenson, a <a href="https://coin-turk.com/mike-novogratz-kripto-paralara-42-trilyon-dolarlik-destek-yolda" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> analyst closely followed by investors, seems to have switched to the bullish side after <a href="https://en.coin-turk.com/nobody-expected-this-the-expected-signal-for-bitcoin-and-altcoins-came-from-binance-ceo-cz/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/bitcoin-price-levels-to-determine-ripples-future-on-ripple/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) revisited its highest level in four months. In his latest assessment, the analyst stated that there is a strong rise on the table for the largest cryptocurrency.
<h2 style="text-align: justify" id="strong-breaking-the-32-000-threshold-is-crucial-for-a-major-rally-strong">Breaking the $32,000 Threshold is Crucial for a Major Rally</h2>
Known for predicting major rallies in advance, cryptocurrency analyst Svenson said in his latest analysis video shared on YouTube that Bitcoin could gain about 130% from its current price after converting an important resistance level into support. The analyst said the following while explaining his bullish expectation:
<blockquote>
 Eventually, when we break above the $32,000 resistance and confirm it as support, there will likely be a significant move towards the all-time high (around $69,000).
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-268860" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-BTC-Esik-1.png" alt="" width="1168" height="594">
According to the analyst, after testing the $32,000 resistance as support again, there will be a sharp increase in price volatility for Bitcoin:
<blockquote>
 When we break above $32,000, we will enter the range between $32,000 and $70,000. At this point, volatility will likely start to increase rapidly. In the past, we have seen highly volatile movements from $32,000 to the top, bottom, and upside. Even if the record is not initially renewed, I think we will see a great deal of movement above the $32,000 region.
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-268861" src="https://coin-turk.com/wp-content/uploads/2023/10/BTC-Bitcoin-Grafik.png" alt="" width="1129" height="572">
<h2 style="text-align: justify" id="strong-expecting-bitcoin-to-surpass-70-000-strong">Expecting Bitcoin to Surpass $70,000</h2>
Looking at the Bitcoin chart shared by Svenson, it can be seen that the largest cryptocurrency predicts that it will surpass $70,000 in the coming years. The analyst sees the approval of a spot Bitcoin ETF as a development that will push BTC above $32,000:
<blockquote>
 If this happens and we break above $32,000, be prepared for people to be surprised. Because I think many people always forget that Bitcoin likes to surprise them after this boring sideways range (from $25,000 to $32,000).
</blockquote>
BTC is currently trading around $29,678, approximately 56% below its all-time high of around $69,000. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-analyst-kevin-svenson-expects-a-strong-rise-for-bitcoin-btc-as-it-revisits-its-highest-level-in-four-months/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-analyst-kevin-svenson-expects-a-strong-rise-for-bitcoin-btc-as-it-revisits-its-highest-level-in-four-months/</a>

Bitcoin Analyst Kevin Svenson Expects a Strong Rise for Bitcoin (BTC) as It Revisits Its Highest Level in Four Months

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