Kevin Svenson, who stands out with his cryptocurrency analysis, Bitcoin He stated that the price could jump from the current level to triple digits.
In his post on his social media account, Svenson suggested that Bitcoin could gain value between 50% and 201% on average, based on historical examples.
” If you ask the estimate based on the ratio of previous earnings, I say $95,000 as the minimum target… And the median target is $142,000. And if things go really well, it’s possible we can get to $190,000. But maybe somewhere near $142,000… but it could be between $95,000 and $142,000, it could be like $124,000. Something along these lines. But these are just the areas I’m looking at based on a rough estimate.”
According to Svenson, the leader cryptocurrencyIf TL reaches new peaks, its volatility is likely to increase in the coming months.
“If Bitcoin continues like this and rises to $ 90,000, everything will become more active in the coming months. From that point on, we will be on the rise. And at that point, when everyone is convinced that the bull market is back, we will go up, up, and up. Who knows 100,000 or more.
This is when you need to be most careful because this is where your big parabolic trend collapse happens and you get a big break down, a big correction and a consolidation. And then, because we were so early, I would think; Even though the halving hasn’t happened yet, it will likely consolidate after this move and rise again at a later point.”
Bitcoin is trading at $63,125 at the time of writing, down nearly 13% from its all-time high reached on March 14.
