Bitcoin’s Potential Vertical Move
Cryptocurrency analyst Kevin Svenson believes Bitcoin is entering what he calls the “vertical stage” of its current trend. According to his recent analysis, this phase typically involves rapid price acceleration where the asset’s value “quite literally starts to go vertical.”
Svenson’s assessment comes at a time when Bitcoin is trading around $119,811, and he thinks we might see significant movement in the coming weeks. His analysis draws from historical patterns where major price pumps have occurred within relatively short timeframes.
Price Targets and Timeframe
The analyst has set specific price targets for this potential move. While $135,000 represents his next technical target, Svenson suggests the actual peak could land somewhere between $140,000 and $150,000. He’s settled on $142,500 as a “rough yet specific estimate” for the cycle peak, though he acknowledges this could vary.
What makes this prediction particularly interesting is the timeframe. Svenson believes this move could happen within about a month, possibly two to five weeks based on historical precedent. He points to previous major pumps that typically unfolded over similar periods, with the “meat of the move” lasting around four to five weeks.
Historical Context and Current Position
Looking back at Bitcoin’s price history, Svenson notes that significant upward movements often compress their most dramatic phases into relatively brief windows. The early 2024 period serves as one example where substantial gains occurred within this approximate timeframe.
Bitcoin’s current position appears to be setting up for what could be another such period. The analyst’s confidence stems from observing similar patterns across multiple market cycles, though he remains open to the possibility that actual outcomes might differ from his projections.
Market participants will likely be watching closely over the coming weeks to see if this vertical stage materializes as predicted. The cryptocurrency market has historically been known for its volatility and rapid price movements, making such time-bound predictions both compelling and inherently uncertain.
