Kevin Swenson: Bitcoin will grow by 201% in the near future

Cryptocurrency analyst Kevin Swenson claims that bitcoin BTC $60,921.69 Bitcoin 0.20% Market capitalization $1.2 trillion VOL. 24 hours $1.62 billion could show unprecedented gains in the near future.

Swenson tells his 73,500 subscribers on Platform X that, based on historical precedents, bitcoin could rise in value by anywhere from 50% to 201%.

«…based on the ratio of past returns, I’m putting $ 95,000 as a minimum target… …and a medium target of $ 142,000. And if things go very well, we’ll reach $ 190,000.

But somewhere closer to $ 142,000, maybe… but it could be between $ 95,000 and $ 142,000, maybe around $ 124,000. Something like that. But these are the areas that I’m only looking at based on rough estimates," the analyst said.

According to Swenson, bitcoin’s volatility is likely to increase in the coming months. The condition is that the flagship crypto asset should reach new highs.

«What we are seeing now is nothing compared to what you can see in the coming months if bitcoin continues its growth and gets an extension to $ 90,000.

And then, when everyone is convinced that the bull market is back, we will go up and up and up and up and up to $ 100,000, no matter where. And that’s when most people become vulnerable and just hypnotized by the bullish price dynamics.

That’s when you have to be extremely careful, because that’s where the huge breakdown of the parabolic trend happens, and you get a huge washout [криптовалют — ред.], a big correction and consolidation.

And then, I would think that, since there hasn’t been a halving yet, after this movement, consolidation is likely to occur, and then the rise will begin again," the crypto expert summarized.