A Crypto Analyst Predicts Bitcoin’s Price Could Reach $115,000 by End of Week
A well-known crypto analyst has recently shared insights on Bitcoin’s latest surge to a new all-time high, suggesting that the leading cryptocurrency is poised for further gains in the coming days.
Kevin Svenson, a popular crypto trader with a significant following on YouTube, has informed his 83,200 subscribers that Bitcoin’s recent upward momentum signals a breakout that could propel its price to at least $115,000 by the end of the week.
Svenson stated, “This run could be finishing around the end of May 23rd or May 24th, that may be when we actually get to $115,000, so really just a three-day run just like [previously]. I mean I don’t see a reason why this can’t happen. Usually, when you break the all-time high, there’s a lot of momentum, there’s a lot of excitement, and prices move very quickly. So seeing Bitcoin at 115,000 around May 23rd or May 24th would be no surprise at all now.”
Despite projecting a potential pause at $115,000, Svenson suggested that Bitcoin could continue its upward trajectory, possibly reaching $124,000 by July.
He added, “Even though I’m saying that we might stall at $115,000, that does not mean that the run would be over at $115,000. We might just get some chop consolidation and then ultimately run up towards my parabolic trend target of $124,000 – that’s where I think we might actually be by the time that July rolls around.”
As of the time of writing, Bitcoin is trading at $111,322, reflecting a 2.1% increase over the past 24 hours.
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