{"id":178514,"date":"2023-10-21T12:45:47","date_gmt":"2023-10-21T07:15:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=178514"},"modified":"2023-10-21T12:45:47","modified_gmt":"2023-10-21T07:15:47","slug":"bitcoin-to-usher-in-a-huge-push-towards-70000-btc-price-once-this-happens-says-crypto-analyst-kevin-svenson-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-to-usher-in-a-huge-push-towards-70000-btc-price-once-this-happens-says-crypto-analyst-kevin-svenson-crypto-news\/","title":{"rendered":"Bitcoin To \u2018Usher In a Huge Push\u2019 Towards $70,000 BTC Price Once This Happens, Says Crypto Analyst Kevin Svenson – Crypto News"},"content":{"rendered":"

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Crypto trader Kevin Svenson is expressing bullish sentiment on Bitcoin (BTC<\/a>) amid the flagship digital asset revisiting a four-month high.<\/p>\n

Svenson tells<\/a> his 70,500 YouTube subscribers in a new video that once Bitcoin converts a key resistance level into support, BTC could appreciate by about 130% from its current price.<\/p>\n

\u201cUltimately, once we do get above that $32,000 on that resistance and we flip it and confirm it as support, that\u2019s likely going to usher in a huge push towards the all-time high [of slightly over $69,000].\u201d<\/i><\/p>\n

Source: Kevin Svenson\/YouTube<\/figcaption><\/figure>\n

According to Svenson, the volatility of Bitcoin will rise once the $32,000 resistance level flips to support.<\/p>\n

\u201cOnce we break above this resistance [$32,000], we start re-entering this range [$32,000 \u2013 $70,000], the swings are going to likely start to pick up quickly. Because you can see from $32,000 to the top, to the low, to the top, these swings are pretty rapid.<\/i><\/p>\n

So once we get above that $32,000 zone, we confirm it as support, the swings will likely start to become more rapid. Even if we don\u2019t break the [all-time] high initially, I think we\u2019re going to see huge volatility above that $32,000 zone.\u201d<\/i><\/p>\n

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Source: Kevin Svenson\/YouTube<\/figcaption><\/figure>\n

Looking at Svenson\u2019s chart, he seems to predict that Bitcoin will rally above $70,000 in the coming years.<\/p>\n

Svenson says that the approval of a spot Bitcoin ETF could be a catalyst for BTC to rise above $32,000.<\/p>\n

\u201cIf that does happen and we break above $32,000, just get ready for people to be surprised. Because I think a lot of people tend to forget, you know, after this boring sideways range [$25,000 \u2013 $32,000], people always forget that Bitcoin loves to surprise us.\u201d<\/i><\/p>\n

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Source: Kevin Svenson\/YouTube<\/figcaption><\/figure>\n

BTC is worth $29,950 at time of writing, down by around 56% from its all-time high of slightly over $69,000.<\/p>\n