Bitcoin may grow significantly in the near future

Crypto analyst Kevin Swenson believes that bitcoin BTC $58,634.83 Bitcoin -2.51% Market capitalization $1.16 trillion VOL. 24 hours $2.96 billion could rise to a key resistance level before the halving expected in April.

In a new strategy session, the trader tells his 72,000 YouTube subscribers that the flagship digital asset’s upward momentum could take it to $ 60,000:

«…the area between $ 57,500 and around $ 60,000, the trap liquidity target level, I think is the next major resistance area. And that’s the area that I’m targeting as we move towards a halving.

If we keep this momentum going, the momentum we have now, the trajectory we’re on, it’s not such a crazy idea that we can hit that target area between $ 57,500 and $ 60,000. In fact, it’s quite likely."

The trader also warns that after halving, bitcoin could test the level around $ 44,000 again:

«After halving, there is a possibility that we will get a drop to retest support before actually testing new all-time highs.

But before the halving of the price, there will be a lot of anticipation and hopes for positive fundamental events such as the halving of [халвінг — ред.] will probably lead to a lot of optimism, positive sentiment, bullish speculation, and depending on what the stock market does when we reach those price levels, there is a possibility of [BTC — ред.] falling after halving to the $ 44,000 level before rising again."

At the time of writing, according to the CoinMarketCap analytical tracker, the flagship asset is showing a 3.62% increase. The coin is trading at $ 51,717 with a market capitalization of a record $ 1.015 trillion. Traders made daily trading deals worth $ 44.1 billion. BTC’s dominance amounted to 52.6% of the crypto market share, with the fear and greed index reaching 75 points, indicating an optimistic sentiment among traders.