Bitcoin Analyst Predicts Increased Volatility Ahead
Cryptocurrency analyst Kevin Svenson recently shared insights on the future trajectory of Bitcoin (BTC) in a recent video update.
Svenson suggests that Bitcoin’s volatility is likely to increase as it approaches a potential surge of nearly 40% from its current level.
He explains that this heightened volatility is expected once Bitcoin confirms the fourth stage of the parabolic curve pattern on the weekly chart, signaling a significant upward momentum.
The parabolic curve pattern typically consists of four stages, with the fourth stage often signaling a breakout to higher levels, commonly referred to as the “sell point.”
Svenson emphasizes the significance of this stage, stating that it could lead to a substantial increase in Bitcoin’s value.
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According to Svenson, if Bitcoin reaches $90,000 as projected, it may experience significant price swings and corrections, similar to those seen during the cryptocurrency’s historic rally in 2017.
He warns that investors should be prepared for potential dips in the market, which could result in significant portfolio losses.
As Bitcoin continues to trade at $63,987, investors remain cautious as they anticipate potential volatility ahead, especially as the cryptocurrency approaches key resistance levels.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
