Bitcoin ‘Right on Track’ for More Upside Despite Months of Sideways Movement, Says Kevin Svenson – Here’s Why

Bitcoin (BTC) is poised for further upside momentum, according to analyst Kevin Svenson, despite experiencing months of sideways movement. Svenson, who has a large following on YouTube, believes that Bitcoin is following a pattern that could lead to new all-time highs. He points out that after the first halving in 2012 and the second halving in 2016, it took Bitcoin 41 months and 36 months, respectively, to begin trending above the all-time high. Currently, Bitcoin is at 35 months since its last all-time high, indicating that it could start trading above the current all-time high of $74,000 within the next month. Svenson asserts that Bitcoin’s trajectory is right on schedule and that previous cycles have also seen a delay in trending above the all-time high. Despite Bitcoin trading at $66,841 (down 2.13% in the last 24 hours), Svenson remains optimistic about its future potential.