Analyst Kevin Swenson names the month when bitcoin will start growing

Given that most digital assets have been trading for a long time without drastic changes, crypto traders and analysts are trying to determine whether the flagship cryptocurrency can be expected to grow in the near future. According to a tweet by crypto analyst Kevin Swenson, bitcoin is expected to grow, but not before April 2023.

Analyzing the price chart of BTC, Kevin Swenson identified the tops of the cryptocurrency’s cycle in 2013, 2017, and 2021. According to the analyst, the bullish turn after the top of the 2013 cycle began after 81 weeks, while the next growth began after 68 weeks of decline. This led Swenson to conclude that the next bull market should begin an average of 75 weeks after the top of the cycle in November 2021.

However, Swenson is in no hurry to share his forecasts of bitcoin’s value during the upcoming bull market. At the time of writing, BTC is trading for $ 19,142, up 4.09% over the past week.

Not all analysts are optimistic about the future of the flagship cryptocurrency. For example, Aaron Arnold said that the value of the flagship cryptocurrency has a chance to drop by 50% in the near future. The price chart of BTC resembles the bear market of 2018−2019, consolidating at $ 19,000-$ 20,000, as it consolidated around $ 6,000 then, Arnold told Kitco News. «Back then, as I recall, many people thought that $ 6,000 was the bottom. Today, many people think the same, but the biggest drops are still ahead,» the analyst emphasized.