Bitcoin Analyst Forecasts Surge in Halving and New All-Time High Price by 2025
Story Highlights
Bitcoin’s value is expected to surge before the halving event, but there could be a dip in Q2.
The price is expected to rise again in Q3, potentially reaching an all-time high by the end of the year.
Patience is key in the crypto market, as it takes time for prices to move.
Renowned analyst
Kevin Svenson
has boldly predicted a
Bitcoin price
explosion, fueled by the upcoming halving event and potentially reaching a new all-time high (ATH) by year-end.
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But before you rush to cash in, be prepared for a wild ride.
Svenson paints a nuanced picture, with potential dips and strategic patience playing crucial roles. Read on for his insights.
Svenson’s Positive Outlook
Svenson starts on a high note, predicting a surge in Bitcoin’s value leading up to the impending halving event. Drawing insights from the past three halvings, he points out a common trend in price action.
#Bitcoin
| Halving Price Action Forecast
▪ Pump into Halving
▪ Dump into Q2
▪ Pump into Q3
▪ ATH before EOY
Things to keep in mind:
1.) Markets take time.
2.) Volatility is the name of the game.
pic.twitter.com/5SgaFK2IHb
— Kevin Svenson (@KevinSvenson_)
February 5, 2024
In the first two events, Bitcoin’s price soared from $2.48 and $269 a year before each event to highs of $1,131 and $2,518 about a year later. The third halving in 2020 followed suit, with prices moving from $7,255 to an impressive $56,615 within a year.
As we approach the current halving cycle, Bitcoin’s upward trend hints that it might surpass its $69,000 all-time high, presenting a bullish outlook for investors.
Read More:
Scaramucci’s Bitcoin Halving Prediction: BTC Price to Soar to $170,000 Soon?!
Caution in the Air!
Svenson, while optimistic,
warns
of a potential dip in Bitcoin’s value in the second quarter following the halving. This cautious view acknowledges the various factors at play in the market and prepares for a crucial time in the cryptocurrency world.
However, Svenson’s forecast brightens again as he foresees a rise in Bitcoin’s value in the third quarter. He attributes this potential increase to the upcoming U.S. Election in September 2024, suggesting that the result could significantly impact the crypto market, especially if a crypto-friendly president gets elected.
Expanding on his predictions, Svenson suggests that Bitcoin could reach its all-time high by the close of the year, adding an extra layer of excitement for investors.
Patience is Key
In the midst of the enthusiasm, Svenson emphasizes the importance of patience in the ever-changing crypto world. He understands that digital currency markets take time to move and cautions against hasty decisions.
As of now, Bitcoin’s value sits around
$43,090 BTC
, with a notable 23.36% increase in trading volume, totaling an impressive $14.8 Billion. While we await the unfolding of Svenson’s projections, the crypto market remains a captivating arena, teeming with both promise and unpredictability.