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Bitcoin Close to the ‘Really Exciting Part’ of the Cycle, Says Analyst Kevin Svenson – Here Are His Targets

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Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) as the flagship crypto asset hovers above the $100,000 price.

Svenson tells his 82,300 YouTube subscribers that Bitcoin possesses more upside potential despite the bearish sentiment in the crypto market which he attributes to the severe price correction witnessed on some altcoins over the recent past.

“So needless to say, Bitcoin’s doing extremely well despite the sentiment that you guys may have been feeling or seeing across the market.

…we do have room to move up in this cycle it clearly didn’t just begin and it’s also not coming to an end. We’re in the middle and we’re near the really exciting part.”

The analyst says that based on history, the “really exciting part” of the cycle for Bitcoin starts 40 weeks after the halving. The fourth halving event occurred on April 19th of 2024 and it’s nearly 41 weeks since.

“Forty weeks after the 2012 halving, things got really bullish and then the bear market begins 80 weeks after the 2012 halving.

Move over to 2016 halving – 40 weeks later things got really bullish, bear market begins 80 weeks after the 2016 halving.

Go over here to 2020 halving, things were already really bullish until the 40th week in the last cycle although the altcoin cycle began at the 40th week, Bitcoin sort of went sideways but altcoins got most bullish at this point. And then 80 weeks later the bear market begins. Just like the other cycles.”

Source: Kevin Svenson/YouTube

According to Svenson, the price of Bitcoin could rise by up to 35% from the current level.

“I think that we’re going to get probably another major parabolic swing to a much higher target before this parabolic trend actually ends. So I’m very bullish $124,000, $134,000, $142,000… these prices seem very possible to me.”

Bitcoin is trading at $105,023 at time of writing.

 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoins

Bitcoin Is Enough—Coinbase CEO Rejects Altcoins For Reserves

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.



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Altcoins

Blow-Off Top Rally Imminent for Bitcoin and Crypto Amid Rise in US Dollar Supply: Economist Henrik Zeberg

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A closely followed economist believes that strong rallies are ahead for Bitcoin (BTC) and crypto as he thinks conditions are ripe for policymakers to turn the money printers back on.

Citing data from the Atlanta Federal Reserve, Henrik Zeberg tells his 175,200 followers on the social media platform X that the US GDP is projected to contract by 1.5% in Q1 of 2025.

According to Zeberg, the contraction may force Fed Chair Jerome Powell to abruptly pivot and start printing US dollars to shore up the economy.

“But…. the economy is strong, right Powell…? 

The economy is not strong – it is setting up for the worst recession and bear market since 1929.

But first blow-off top as liquidity now will come flushing in.” 

Source: Federal Reserve Bank of Atlanta

Looking at Bitcoin, Zeberg says that its recent collapse to $78,000 is a necessary move to wipe out excessive leverage, making the BTC uptrend more sustainable.

“Fear has been dominating in crypto-land. BTC declined fast to ~$78,000 – just surpassing the daily 200 simple moving average a bit.

This is a healthy test area in a larger BULL MARKET.

In fact, with this updated knowledge of the structure of BTC, it seems like we could witness a strong reversal in BTC setting in soon.”

At time of writing, Bitcoin is trading for $92,597, up nearly 9% on the day.

Zeberg adds that stocks and altcoins will also witness blow-off top rallies. However, he warns that a recession is waiting in the wings.

“Unpopular perspectives: 

1. BTC is about to soar.

2. Nasdaq and S&P500 will rally strongly.

3. Amazing Altseason about to set in.

Above constitutes the blow-off top.

Later recession is coming.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin

Ethereum Whales Gobble Up $422,123,359 Worth of Ethereum (ETH) in Just 24 Hours, Says Crypto Analyst

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A closely followed crypto analyst says deep-pocketed investors are loading up on the leading smart contract platform Ethereum (ETH).

Citing data from crypto analytics firm Santiment, trader Ali Martinez tells his 129,100 followers on the social media platform X that Ethereum whales accumulated over $422 million worth of ETH in just one day.

“Whales bought another 190,000 Ethereum ETH in the last 24 hours, shows data from Santiment!”

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Source: Ali Martinez/X

At time of writing, ETH is worth $2,221.

Looking at Bitcoin (BTC), Martinez identifies crucial support and resistance levels for the crypto king based on investor cost basis.

“The strongest resistance for Bitcoin BTC sits at $97,828.56, where 360,470 BTC were accumulated. Meanwhile, the biggest support is at $64,078.53, backed by 194,530 BTC.”

Image
Source: Ali Martinez/X

At time of writing, Bitcoin is trading for $86,356.

Turning to the top memecoin Dogecoin (DOGE), the analyst says the altcoin is currently respecting a key support level at $0.185.

“Dogecoin DOGE holds above a critical support level!”

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Source: Ali Martinez/X

At time of writing, DOGE is worth $0.206.

As for the payments altcoin XRP, the crypto strategist says that the fourth-largest coin by market cap may drop to as low as $1.65 as it trades within an ascending channel.

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Source: Ali Martinez/X

An ascending channel is a pattern suggesting that an asset is in an uptrend as it respects the diagonal support and resistance levels of the structure.

At time of writing, XRP is trading at $2.24.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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