Popular cryptocurrency expert Kevin Swenson believes that Bitcoin (BTC) could reach an all-time high by the end of 2024.

Swenson remains bullish, noting that Bitcoin is still in a long-term uptrend and could surpass its previous high of around $74,000.

The expert expressed his confidence, saying he expects BTC to break the current record later this year, possibly by the fourth quarter. However, he also warned that some short-term pullbacks could occur before then.

He noted that the leading cryptocurrency could retest the $58,000 level before moving higher, with the Relative Strength Index (RSI) likely to bounce off support before moving into overbought territory. According to Swenson, while these short-term declines are possible, they do not change the bullish outlook in the long term.

The analyst also highlighted the strong technical picture for Bitcoin, especially on the monthly chart, as it continues to build support around key levels from the previous market peak in 2021.$BTC