Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
February 8, 2024

Here Is When Bitcoin Is Likely To Go Parabolic, According to Crypto Analyst Kevin Svenson

By Daily Hodl Staff

Cryptocurrency analyst and trader Kevin Svenson believes Bitcoin (BTC) could go parabolic soon after a key event that’s just two months away.

In a new strategy session, Svenson tells his 71,700 YouTube subscribers that Bitcoin is likely to soar to a new all-time high after the halving event in April based on prior cycles.

ADVERTISEMENT

Halving events, when miners’ rewards are cut in half, occur every four years.

Says Svenson,

So this election year, probably going to see the stock market moving up and that means that Bitcoin is likely going to hit that parabolic curvature somewhere after the halving. And then leading into the second half of 2025, that’s where we need to be getting out of the market.”

Source: Kevin Svenson/YouTube

Looking at his chart, the trader suggests Bitcoin may cross the $100,000 level this cycle as soon as December.

ADVERTISEMENT

The analyst predicts Bitcoin will peak in the current market cycle around October 2025, based on historical price action.

“What we can see is that after every halving, so far every single halving 80 weeks later is the area where the profitability ends, where you want to be out of the market. 2016 halving, 80 weeks after that halving the profit zone ends, bear market comes in. 2020 halving, 80 weeks later it’s the top, you want to get out of the market…

And so now halving in April 80 weeks later brings us to October of 2025. And that’s where we can be making sure that we’re exiting the market fully because a bear market is likely to come.”

Bitcoin is trading for $45,026 at time of writing, up more than 4% in the last 24 hours.

 

ADVERTISEMENT
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney