Cryptocurrency analyst and trader Kevin Svenson says Bitcoin (BTC) is nearing the end of the bull cycle.
Svenson tells 83,900 YouTube subscribers in the new strategy session that Bitcoin will “enter the final stage” of the parabolic trend that began in late 2022.
According to Svenson, Bitcoin will take another few weeks or months before it reaches the top of the cycle.
“We’re heading towards the end of this year or entering the New Year, indicating that the Bitcoin cycle is at its peak.”
Svenson says more
“The way this cycle ends is probably different from what you expected. Let’s say Bitcoin is $140,000, $150,000… November, December, January, that’s not really important, and it’s a big fix.
Source: Kevin Svenson/YouTube
According to Svenson, if history repeats itself before the top of Bitcoin cycle, happiness and extreme bullishness can precede it.
“People are very bullish with Bitcoin, Ethereum and altcoins at the end of the cycle.
Everything I’ve seen the whole cycle so far is not confident. All I see is skepticism. All I see is pessimism. There is no overwhelming enthusiasm. So it tells us we are not in the excess zone. ”
Bitcoin is trading at $116,436 at the time of writing.
https://www.youtube.com/watch?v=euuhrydeip0
Generated Image: Midjourney
