It seems that Bitcoin continues to remain surrounded by optimistic predictions about its price. Check out the following reports about the most important digital asset’s price below.
Bitcoin new price prediction is out
Crypto trader Kevin Svenson seems to have a really strong bullish sentiment on Bitcoin (BTC), and he recently told his subscribers on YouTube via a video that after BTC is able to convert a key resistance level into support, the king coin could appreciate by 130% from the current price.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $29,687.
He believes the following:
“Ultimately, once we do get above that $32,000 on that resistance and we flip it and confirm it as support, that’s likely going to usher in a huge push towards the all-time high [of slightly over $69,000].”
He also stated the fact that after the volatility of Bitcoin will rise once the $32,000 resistance level flips to support.
“Once we break above this resistance [$32,000], we start re-entering this range [$32,000 – $70,000], the swings are going to likely start to pick up quickly. Because you can see from $32,000 to the top, to the low, to the top, these swings are pretty rapid.”
He continued and said:
“So once we get above that $32,000 zone, we confirm it as support, the swings will likely start to become more rapid. Even if we don’t break the [all-time] high initially, I think we’re going to see huge volatility above that $32,000 zone.”
The analyst made sure to predict the fact that Bitcoin will rally above $70,000 in the coming years.
As expected, Svenson said that the approval of a spot Bitcoin ETF would definitely be the one trigger that would make BTC rise above $32,000.
Stay tuned for more exciting predictions about the crypto market, and keep your eyes on the prices as well.
