Cryptocurrency

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/kevin-svenson-predicts-bitcoin-could-reach-six-figure-price-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Kevin Svenson Predicts Bitcoin Could Reach Six-Figure Price Levels</a> 
Cryptocurrency analyst and trader Kevin Svenson stated that <a href="https://en.coin-turk.com/is-bitcoin-returning-to-a-live-period-expert-analyst-shares-new-bitcoin-btc-comment/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) could potentially reach six-figure price levels. Svenson, in a new YouTube announcement, expressed that Bitcoin’s price movement since the lows seen at the end of 2022 and the beginning of 2023 could reach entirely different levels.
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2>
According to renowned analyst Kevin Svenson, Bitcoin could be very close to a roughly 50% increase from its current level.
<blockquote>
 We are one step away from reaching $100,000. And I think this will happen much faster than people expect. The market usually doesn’t do what you expect; the market usually does the unexpected.
 And remember, when we break above this region, when we reach the last peak of $74,000, it is a breakout in the blue sky, meaning there is no previous resistance, and this is usually where you gain a lot of momentum, there is a lot of demand, and Fear of Missing Out (FOMO). And people will flock to the market.
</blockquote>
According to Svenson, the bear market involving Bitcoin and other high-risk assets may only be a few months away.
<blockquote>
 With all the fundamental news happening for Bitcoin at this point, a breakout in the blue sky, I think we will reach $100,000 much faster than people expect, with a few consolidations in between.
 And if that is the case, we will probably see the highest resistance of all time, sales, major profit-taking, and then a rise again towards 2025.
 But after that, I think we will probably see a significant contraction not just for Bitcoin, but for the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">stock market</a> and the economy as well.
</blockquote>
<h2 style="text-align: justify" id="bitcoin-price-update">Bitcoin Price Update</h2>
Significant events are happening in the market today. In the morning, Bitcoin was seen falling below $64,000. After the drop, the bulls reacted to the price movement, and the price rose above $64,000 again.
<img decoding="async" class="aligncenter size-full wp-image-373833" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-dusus-yukselis-site-coin-turk-com.png" alt="" width="1514" height="80">
Current market analysis shows that BTC price has fallen back to $63,900. Recently, Galaxy Digital announced that it had raised a fund of $113 million. Following this, Marathon Digital was reported to have made a $100 million Bitcoin purchase.
The Gross Domestic Product data announced in the US was 2.8% despite a 2% expectation. After <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the announcement</a> of the data, Bitcoin’s price remained stable, but the price drop occurred within the first half-hour following the announcement.
BTC’s market cap has fallen to $1.261 trillion, while its 24-hour trading volume stands at $35.96 billion.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/kevin-svenson-predicts-bitcoin-could-reach-six-figure-price-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Kevin Svenson Predicts Bitcoin Could Reach Six-Figure Price Levels</a></h5>
The post <a href="https://en.coin-turk.com/kevin-svenson-predicts-bitcoin-could-reach-six-figure-price-levels/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Kevin Svenson Predicts Bitcoin Could Reach Six-Figure Price Levels</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Kevin Svenson Predicts Bitcoin Could Reach Six-Figure Price Levels

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