Based

Parabolic

Kevin

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-kevin-svenson-anticipates-significant-bitcoin-surge-based-on-technical-model" rel="noopener noreferrer nofollow">Analyst Kevin Svenson Anticipates Significant Bitcoin Surge Based on Technical Model</a><br></p>
<p style="text-align: justify">Crypto currency expert Kevin Svenson has shared insightful predictions regarding <a href="https://en.bitcoinhaber.net/deciphering-bitcoins-complex-cycles-a-technical-insight" rel="noopener noreferrer nofollow">Bitcoin</a>‘s trajectory, indicating a possible 40% surge from its current price level. Svenson’s analysis centers on the <a href="https://en.bitcoinhaber.net/banking-and-crypto-a-year-of-turbulence-and-transition" rel="noopener noreferrer nofollow">cryptocurrency</a> confirming the fourth phase of the parabolic curve model on its weekly chart, suggesting a substantial increase could follow.</p>
<h2 id="understanding-the-parabolic-curve-s-fourth-phase">Understanding the Parabolic Curve’s Fourth Phase</h2>
<p style="text-align: justify">Svenson’s <a href="https://en.bitcoinhaber.net/cryptocurrency-market-fluctuations-bitcoin-and-altcoins-volatility" rel="noopener noreferrer nofollow">technical analysis</a> reveals a parabolic curve pattern that Bitcoin seems to be echoing, with the fourth phase often signaling a major breakthrough. He believes identifying the bottom of this phase is crucial for predicting a significant upswing in Bitcoin’s market value, along with an increase in volatility.</p>
<p style="text-align: justify">To his audience on YouTube, the analyst described Bitcoin’s movements as mirroring textbook examples of this model. He pointed to a potential peak selling point that could reach approximately $90,000, considering current market behavior.</p>
<h2 id="predictions-for-post-peak-bitcoin-fluctuations">Predictions for Post-Peak Bitcoin Fluctuations</h2>
<p style="text-align: justify">Svenson drew comparisons to the 2017 market trend, suggesting the possibility of a 40% drop from an estimated $90,000 high, likely followed by a correction towards the $50,000 mark. He emphasized that before Bitcoin escalates towards higher values, it might experience a consolidation period akin to the patterns seen in past market cycles.</p>
<p style="text-align: justify">He also warned investors to brace for dramatic swings in their investment values, which could potentially halve during these volatile periods. Currently, Bitcoin trades at $64,440 with its market capitalization standing at $1.26 trillion, showing significant growth over recent weeks.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-kevin-svenson-anticipates-significant-bitcoin-surge-based-on-technical-model" rel="noopener noreferrer nofollow">Analyst Kevin Svenson Anticipates Significant Bitcoin Surge Based on Technical Model</a></h5>

Analyst Kevin Svenson Anticipates Significant Bitcoin Surge Based on Technical Model

Table of Contents

BH NEWS

Other articles published on Mar 23, 2024

Spruce Pine, North Carolina: The Unassuming Hub of the Semiconductor Industry

Robert Kiyosaki blasts BTC skeptic Peter Schiff for knowing ‘a lot about a little’

Dogecoin Leads Cryptos Higher In Weekend Rally: A Look At Memecoin's Technicals

Bitcoin Price: Why BTC Price Will Hit $3.8 million in 2030

Larian Studios’ Decision to Move On from Baldur’s Gate 3: A Closer Look

Crypto market slumps 8% as Bitcoin ETF outflows exceed $836m, but there’s a catch

Join our free newsletter for daily crypto updates!