BTC Price Prediction: $89,000 to $92,000 Within Months, Analyst Says
CryptoNewsTerminal Staff12 Sep, 2024
BTC Price Prediction: $89,000 to $92,000 Within Months, Analyst Says
## BTC Price Poised to Break Record High, Analyst Predicts According to cryptocurrency analyst Kevin Svenson, Bitcoin (BTC) is poised to reach its highest price ever within a few months. Svenson, who boasts a YouTube following of around 790,000 subscribers, believes that BTC is forming a falling wedge pattern on its monthly BTC/USD chart. This pattern, if played out, has the potential to drive the price up by as much as 63%. Svenson projects that if the price rally materializes, BTC could reach a price range between $89,000 and $92,000. He emphasizes that corrections are an inevitable part of every market cycle and that the current correction is no exception. Even during the previous bull run in 2017, when BTC soared from $200 to $20,000, there were multiple 40% corrections. Svenson's analysis suggests that BTC is on track for a significant price surge in the coming months. However, it's important to note that his prediction is based on technical analysis and market patterns, which can be subject to change. As with any investment, it's always prudent to conduct thorough research and consult with financial experts before making any decisions.
