Popular crypto analyst and YouTuber Kevin Svenson has predicted a much larger parabolic expansion in the Bitcoin chart despite corrections before or after the upcoming halving. In a video posted on Thursday, the analyst stated he maintains bullish sentiments while noting that the recent run in price has decimated predictions of bearish capitulations for Bitcoin.
“Even if we do get rejection during or after the halving, ultimately I think it’s just going to lead to a much larger parabolic expansion phase,” Svenson stated.
Major Resistance at $60k
The crypto Youtuber stated that Bitcoin had just broken a major resistance at $49,000, and he sees it continuing the uptrend till $60,000. Although Svenson didn’t expressly state when Bitcoin would reach the next significant resistance at $60,0000, his analysis suggests that the asset might get there pre-halving.
Svenson is not the only analyst calling for a higher price pre-halving; a Dutch analyst, Marc van der Chijs, predicted an even higher price before the April halving. Van der Chijs predicted that Bitcoin would hit $100,000 in the next two or three months, alleging a significant price movement post-halving.
No Price Predictions
Analyst Svenson maintained that he actually has no price predictions for the fast-coming bull run. Instead, he said he would just sit back and observe what the uptrend would offer investors.
He, however, stated that he would use the 40th to 80th-week peak zone between January 2025 and October 2025 to scale out of the market.
“I don’t really care about prices, I care about time. Honestly, I would just let the market decide what the price target is, where the peak is, and I would be looking to scale out at the 40 to 80th-week zone,” Svenson stated.
