Potential Rise of Bitcoin and Parabolic Curve Analysis

Cryptocurrency analyst Kevin Svenson shared his Bitcoin (BTC) forecasts for future movements with his subscribers on his YouTube channel. According to Svenson, Bitcoin may show about a 40 percent rise from current levels. The analyst believes that this increase could grow even more if the fourth stage of the parabolic curve model seen in weekly price charts is confirmed. Drawing Attention to Parabolic Curve Model The parabolic curve model works in four stages in technical analysis, and the fourth stage generally symbolizes the start of a major rally. Svenson emphasized that the confirmation of this stage is important for Bitcoin, and expressed that after this confirmation, volatility could increase. The analyst, stating that Bitcoin is following a parabolic curve pattern, said that the potential selling point could be 90,000 dollars. Svenson also warned investors who are concerned about the current declines of possible larger future price fluctuations. Scenario After 90 […]

Potential Rise of Bitcoin and Parabolic Curve Analysis

Cryptocurrency analyst Kevin Svenson shared his Bitcoin (BTC) forecasts for future movements with his subscribers on his YouTube channel. According to Svenson, Bitcoin may show about a 40 percent rise from current levels. The analyst believes that this increase could grow even more if the fourth stage of the parabolic curve model seen in weekly price charts is confirmed.

Drawing Attention to Parabolic Curve Model

The parabolic curve model works in four stages in technical analysis, and the fourth stage generally symbolizes the start of a major rally. Svenson emphasized that the confirmation of this stage is important for Bitcoin, and expressed that after this confirmation, volatility could increase. The analyst, stating that Bitcoin is following a parabolic curve pattern, said that the potential selling point could be 90,000 dollars.

Svenson also warned investors who are concerned about the current declines of possible larger future price fluctuations.

Scenario After 90 Thousand Dollars

Svenson anticipates that Bitcoin could decrease by 40 percent after reaching 90,000 dollars, and then pull back to the 50,000 dollar levels. Expecting a scenario similar to the fluctuations in 2017, the analyst predicts a consolidation period before a rise towards single-digit numbers. He warns investors that portfolio values could halve during such volatile periods.

At the time of writing, the price of Bitcoin had dropped by 2.34 percent in the last 24 hours to 64,440 dollars. The market value of Bitcoin was 1.26 trillion dollars, showing an increase of 26.57 percent and 52.37 percent in the last 7 and 30 days, respectively.

how to buy crypto?
Related Posts

Token Lock Releases and the Market Impact of ID Token

News 1 month ago

The cryptocurrency ecosystem closely monitors token lock release events, especially with great attention. Within the next week, it is indicated that token lock releases worth approximately $45.80 million will take place. These events can significantly affect market fluctuations. Particularly, ID, the local token of the Space ID platform that provides domain services in blockchain networks, is one of the key tokens that investors keep an eye on. ID Token Lock Release The lock release of the ID token, which will show an increase in supply of approximately 4.29%, will take place on April 22 at 03:00. This event can affect the market value of the ID token and the interest of investors in this token. Currently, the token is trading at $0.849 level and investors are closely monitoring this process. ID Chart Analysis According to the four-hour chart analysis of the ID token, an exit from the falling channel formation […]

Analysis of XRP Coin on SEC Lawsuit and Market Impacts

News 1 month ago

The ongoing legal process with the SEC has been affecting the market evaluations of XRP coin. Lawyers are set to present their appeals on Monday. Experts indicate that the increase in circulation supply will make it difficult for XRP to reach its former highs. Nevertheless, the recent short-term recovery in its price is promising. Market Dynamics and Price Movements Following recent losses, XRP has risen by 5.55% to $0.53. While its losses were greater compared to other cryptocurrencies, it is currently showing signs of recovery. Legal evaluations, court documents, and other details may positively or negatively impact XRP’s price in the future. Throughout 2024, the market has been on the rise while XRP has been lagging behind other altcoins. It lost 15% this year, while Bitcoin showed a 35% increase. This underperformance of XRP has prevented its growth even in high-risk appetite days. Investor Interest and Expectations Some investors may […]

The Strong Structure of Cardano (ADA) Treasury and ADA Coin Price Predictions

News 1 month ago

Cardano’s (ADA) treasury holds 1.5 billion ADA, which accounts for more than 4% of the circulating supply and is worth around $720 million with the current market value. These funds in the treasury are used to support the ecosystem and finance new projects. The Cardano ecosystem aims to create a self-sustaining structure using this balance. Features of the Cardano Ecosystem Cardano has a decentralized structure and allows ADA owners to vote democratically. This structure strengthens decentralization and democratic governance. The funds in the treasury increase through network activity, and a portion of transaction fees and block rewards accumulate in the treasury. The community votes on the use of these funds to finance projects. However, despite the expansion of Cardano’s smart contract capabilities, the number of applications that attract a significant and large user base on the network remains insufficient. The Future of ADA Coin According to technical analysis expert Ali […]

0 Comment

Write a Comment

how to buy crypto?
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • bitcoinBitcoin(BTC)
    $69,864.00-0.77%
  • ethereumEthereum(ETH)
    $3,721.93-1.73%
  • tetherTether(USDT)
    $1.000.29%
  • binancecoinBNB(BNB)
    $619.580.54%
  • solanaSolana(SOL)
    $181.151.75%
  • staked-etherLido Staked Ether(STETH)
    $3,712.49-2.00%
  • usd-coinUSDC(USDC)
    $1.000.32%
  • rippleXRP(XRP)
    $0.53-2.59%
  • dogecoinDogecoin(DOGE)
    $0.165148-2.68%
  • the-open-networkToncoin(TON)
    $6.30-1.29%
Random