Crypto analyst Kevin Svenson predicts that Bitcoin could rise to $142,000 in 2024. Maintaining its upward momentum after the election, Bitcoin could reach significant price levels in 2024.
Bitcoin Price Targets and Required Supports
Svenson states that Bitcoin could see $124,000 by March and $142,000 by October. Breaking the $94,000 level means reaching the first target. Then, the $124,000 target is expected. Bitcoin is exhibiting a parabolic uptrend.
Rising, Correction and Bitcoin Could Hit $142,000 in 2024!
If the parabolic trend continues into March, there may be a correction in the summer months. However, the target of $142,000 in October is still valid. This level may be the peak before profit taking. After $142,000, there may be a pullback to pre-election levels.
Current Prices and Market Expectations
Bitcoin is currently trading at $75,867, up 1.8% in the last 24 hours. It was at $67,800 the night before the election. Market experts are analyzing Bitcoin’s future price movements. Investors are evaluating these fluctuations and determining their strategies.
Bitcoin reaching a significant level of $142,000 is a positive signal for investors. Bitcoin’s price is affected by technological developments, the global economy, and market trends. 2024 could be an important year for Bitcoin.
