The parabolic trend of Bitcoin remains – but how long?
According to a much -noticed dealer, Bitcoin could be about to have a strong movement that could determine the rest of the year.
The market analyst Kevin Svenson believes that the current price structure indicates the last phase of an exponential rally that was first used in 2023.
In his latest update, Svenson argued that Bitcoin is about to break through his last great resistance, which is around $ 110,000. If this barrier falls, it predicts a steep vertical price increase – a typical feature that can often be observed at the end of parabolic cycles.
He described the next phase as a “vertical thrust”, a classic license plate for the mark control. The prices rise rapidly and often culminate in a so-called blow-off top-a steep climb, followed by a clear correction.
Svenson compared the potential scenario with developments in earlier Bitcoin cycles, especially in 2017 and 2021.
He admitted that parabolic trends did not last forever, but said that the upward trend could continue until the early autumn months. If you are oriented towards history, Bitcoin could reach its climax at some point in October before the trend inevitably cools down.
