Cryptocurrency analyst Kevin Svenson believes that Bitcoin is on the verge of reaching a new all-time high, despite trading over 20% below its peak in March. Svenson points out that Bitcoin typically experiences corrections in all cycles, and the current one is no exception. He highlights that the current pattern being formed by Bitcoin, a descending broadening wedge, is considered a bullish signal. According to Svenson, if this pattern plays out as he expects, Bitcoin could surge by up to 63% from its current level. He specifies a target range of $89,000 to $92,000 for Bitcoin's potential future price.



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