Cryptocurrency analyst Kevin Svenson is optimistic about the future of Bitcoin (BTC) as the leading digital asset approaches its all-time high. In a recent video, Svenson, who has 82,200 subscribers on YouTube, stated that Bitcoin is currently following a parabolic trend and has further potential for growth before a correction takes place.

Svenson believes that the parabolic trend is becoming more vertical on larger time frames, but for now, the trend is favorable. He predicts that Bitcoin will continue to rise for a longer period, with another significant increase on the parabolic curve.

According to Svenson, Bitcoin could experience a price increase of 19% to 34% from its current level before reaching the end of the parabolic trend that began in early 2023. He expects the next selling point on the curve to be between $124,000 and $140,000, which will be followed by a major correction and a breakdown of the parabolic trend.

Svenson also points out that Bitcoin’s bull run could potentially end in the fourth quarter of this year, following the pattern observed in previous four-year cycles. According to his models, the 40th week after the halving, which is happening soon, is typically the period of maximum bullishness in the crypto market. This bullish trend typically lasts for an additional 40 weeks. However, the bear market in almost every cycle begins around 80 weeks after the halving, which would be in October 2025.

As of now, Bitcoin is trading at $104,260.

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