Cryptocurrency

Bull Market

Kevin

Bitcoin

Parallel

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/kevin-svenson-identifies-two-catalysts-for-bitcoin-bull-market/" data-wpel-link="internal">Kevin Svenson Identifies Two Catalysts for Bitcoin Bull Market</a> 
Cryptocurrency analyst and trader Kevin Svenson provided an analysis that gives investors hope by claiming that two significant catalysts could potentially trigger a <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> for <a href="https://en.coin-turk.com/bitcoin-expected-to-rise-in-the-last-quarter-of-the-year-despite-the-challenges/" data-wpel-link="internal">Bitcoin</a> (BTC). The analyst expects the crypto king to make a big move soon. 
<h2 style="text-align: justify" id="strong-analyst-says-bitcoin-moves-parallel-to-past-cycles-strong">Analyst Says Bitcoin Moves Parallel to Past Cycles</h2> 
Svenson, speaking to his YouTube subscribers, stated that the stock market and global money supply are giving positive signals for Bitcoin’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. The analyst emphasized that the S&amp;P 500 stock index has performed beyond expectations, saying, “The S&amp;P 500 exceeded all expectations. Remember, a few weeks ago, it seemed like the end of the world… But now the S&amp;P 500 is just one percent away from its all-time high. It has returned to the peaks with a perfect recovery.” 
Svenson also noted that the global money supply has started to increase, indicating that this rise in money supply is a positive development for Bitcoin. “Global liquidity is starting to increase, even though we see lower peaks, we are approaching a breaking point. The money printers are coming back, and interest rates are likely to fall soon,” he added. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-382616" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-23_12-51-41.png" alt="" width="3028" height="1422"> 
Evaluating Bitcoin’s current price movement on the monthly timeframe, Svenson pointed out that the current situation parallels cycles from previous years. The analyst stated, “Bitcoin is currently on a perfect path. What we see on the monthly chart is no different from previous cycles. Remember, in 2016, the block reward halving occurred, and a few months later, we reached new highs. The same scenario happened again after the halving in 2020. We are on a similar path post-halving in 2024. We haven’t reached new highs yet, we’ve just touched them, which actually shows that we are in perfect harmony with previous cycles.” 
<h2 style="text-align: justify" id="strong-positive-comment-alongside-a-warning-strong">Positive Comment Alongside a Warning</h2> 
Svenson noted that despite the volatility, Bitcoin’s current situation is quite good and is on suitable ground for new highs. The largest cryptocurrency was trading at $61,000 at the time of writing. 
While uncertainty about Bitcoin’s future continues, Svenson paints a hopeful picture for investors. Given the highly volatile nature of the market, it is essential for investors to be cautious and shape their investment strategies accordingly. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/kevin-svenson-identifies-two-catalysts-for-bitcoin-bull-market/" data-wpel-link="internal">Kevin Svenson Identifies Two Catalysts for Bitcoin Bull Market</a></h5>
The post <a href="https://en.coin-turk.com/kevin-svenson-identifies-two-catalysts-for-bitcoin-bull-market/" data-wpel-link="internal">Kevin Svenson Identifies Two Catalysts for Bitcoin Bull Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Kevin Svenson Identifies Two Catalysts for Bitcoin Bull Market

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