Bitcoin is poised to reach a much higher price faster than people expect, says Kevin Svensson – and that’s his target

Cryptocurrency analyst and trader Kevin Svensson is bullish on Bitcoin (BTC) amid the market recovery.

In a new video Svensson He tells His 82,000 YouTube subscribers believe Bitcoin is poised to break above the downtrend line after weeks of sideways price action.

“I think we’re going to get something similar where the market is going to move a lot faster than people expect. It’s going to leave people in the dust and it’s going to send us to a much higher price level. A complete continuation of the parabolic trend, giving us another growth spurt to another high level before we see some sort of Profile.”

According to Svensson, Bitcoin is currently in a parabolic trend. The next major price target for Bitcoin after breaking the current all-time high is at least $124,000, says a cryptocurrency analyst.

“That trend line is actually getting quite steep now. So, if Bitcoin continues going parabolic on this path and we get to around $124,000 and maybe $130,000 and then we trade sideways through the parabolic trend line, I would expect a significant pullback after that,” he said. It stabilized in the summer and then ran to a new all-time high above $140,000 before the end of the year.

Bitcoin is trading at $99,170 at the time of writing, about 8% below the all-time high of roughly $108,200 reached on December 17, 2024.

The crypto king is up about 10% since its 2025 low of around $89,800 was reached earlier this week.

Never miss an opportunity – sign up to get email alerts delivered directly to your inbox

Check price action

Follow us on X, Facebook and cable

Browse Hodl’s daily mix

Generated image: mid-flight