Crypto analyst Kevin Svenson is optimistic about the future of Bitcoin, stating that the cryptocurrency is poised for a “continued upside, a continued recovery.” Svenson believes that one factor that could trigger a Bitcoin rally is the bullish performance of the stock market, particularly the S&P 500 index. Despite a double-digit correction, Svenson notes that the S&P 500 has rebounded and reclaimed more than half of its dip, which could instill confidence in speculators and push Bitcoin to new all-time highs. The analyst suggests that if Bitcoin rallies alongside the stock market, it could appreciate by approximately 65%, reaching a target of $98,000. At the time of writing, Bitcoin is trading at $59,400.
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One Factor Could Trigger Bitcoin Explosion to New All-Time High, Says Crypto Analyst Kevin Svenson
