Cryptocurrency

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Kevin

<p style="text-align: justify">Kevin Svenson, a well-known cryptocurrency analyst known for his accurate predictions, has issued a warning of a deep correction for <a href="https://en.coin-turk.com/forget-everything-you-know-this-scenario-likely-awaits-bitcoin-with-a-90-probability/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) during its upward trend. The analyst claims that such a correction is necessary for the largest cryptocurrency to be able to make strong rallies in the coming months.</p>
<h2 style="text-align: justify" id="analyst-points-downward-for-bitcoin-in-the-short-term">Analyst Points Downward for Bitcoin in the Short Term</h2>
<p style="text-align: justify"><a href="https://en.coin-turk.com/will-crypto-currencies-rise-analysis-of-bitcoins-bull-run/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency</a> analyst Kevin Svenson stated on his personal account on the <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">social media</a> platform X that Bitcoin’s conversion of the previous resistance at $31,000 into support means a long-term rise for BTC. According to Svenson, this correction will prepare BTC for a sustainable rally in the coming year:</p>
<blockquote>
 <p>“I want to share the main outlines of the scenario where I predicted the retesting of the breakout zone. Contrary to what you might think, this scenario represents one of the best-case scenarios. It allows for indicators to reset, paves the way for constructive price movements, and sets the stage for a strong entry into 2024. What does this chart really say? It says an upward trend and a rise until 2024. I really don’t care about a possible drop. It’s just a buying opportunity.”</p>
</blockquote>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-276346" src="https://coin-turk.com/wp-content/uploads/2023/11/Bitcoin-Senaryosu.jpeg" alt="" width="2076" height="1516"></p>
<p style="text-align: justify">Looking at the price chart shared by the analyst, it is noticeable that Bitcoin is expected to touch the $31,000 level twice before approaching $40,000 at the beginning of 2024.</p>
<h2 style="text-align: justify" id="bitcoin-sets-a-date-for-125-000-early-2025">Bitcoin Sets a Date for $125,000: Early 2025</h2>
<p style="text-align: justify">Svenson also listed the details of a long-term scenario for Bitcoin that he called “quite realistic.” To support this scenario, the analyst shared a chart showing that the largest cryptocurrency exceeded $125,000 at the beginning of 2025.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-276348" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Senaryosu-scaled.jpeg" alt="" width="2560" height="1430"></p>
<p style="text-align: justify">BTC is currently trading at $36,477 at the time of writing this article. A rise towards Svenson’s long-term target represents a significant upward move of over 240% for the largest cryptocurrency, making it quite remarkable.</p> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-analyst-warns-of-deep-correction-as-bitcoin-rises/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-analyst-warns-of-deep-correction-as-bitcoin-rises/</a>

Bitcoin Analyst Warns of Deep Correction as Bitcoin Rises

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