Famous crypto analyst Kevin Svenson, Bitcoin He shared his 2024 price prediction for. Svenson in X in sharing, explained its expectations for the leading cryptocurrency with an illustrated analysis. In his analysis, he showed in detail the various transition stages he expects in BTC’s price development. Svenson’s Bitcoin prediction and analysis sparked widespread interest in the cryptocurrency world.
#Bitcoin | Halving Price Action Forecast
NEWS CONTINUES BELOW▪ Pump into Halving
▪ Dump into Q2
▪ Pump into Q3
▪ ATH before EOYThings to keep in mind:
1.) Markets take time.
2.) Volatility is the name of the game. pic.twitter.com/5SgaFK2IHbNEWS CONTINUES BELOW— Kevin Svenson (@KevinSvenson_) February 5, 2024
The analyst announced the 2024 price prediction for Bitcoin (BTC) by dividing it into four stages. According to Svenson’s analysis, these four phases are: halving rally, Q2 correction, Q3 rally, and all-time high (ATH) before year-end. The analyst also emphasized two basic concepts that should be taken into consideration during the process when these price transitions occur. Svenson stated that crypto investors should understand that markets take time and volatility will continue to occur.
According to Svenson, the next Bitcoin halving will occur at block height 840,000 and he expects this event to occur on April 15, 2024. He predicts a significant rally ahead of the halving, with Bitcoin reaching $55,000 before falling below $45,000.
According to the analyst, there will be a correction in the 2nd quarter. However, after this pullback, Svenson predicts that Bitcoin will find support in the $45,000 region before starting a rally later in the year.
The rest of the analysis suggests that Bitcoin will rise in the 3rd quarter and reclaim the lost profits. He also states that towards the end of the year, Bitcoin will record a new ATH and the rally will continue.
At press time, BTC was trading at $43,134 after bouncing off the $38,505 support on the weekly chart, according to TradingView data. Svenson’s analysis shows that Bitcoin is in a classic uptrend that could continue towards the halving event.
