{"id":27545,"date":"2024-08-24T15:30:24","date_gmt":"2024-08-24T12:30:24","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27545"},"modified":"2024-08-24T09:23:45","modified_gmt":"2024-08-24T06:23:45","slug":"kevin-svenson-outlines-two-factors-that-could-trigger-a-bitcoin-surge","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/kevin-svenson-outlines-two-factors-that-could-trigger-a-bitcoin-surge\/","title":{"rendered":"Kevin Svenson Outlines Two Factors That Could Trigger a Bitcoin Surge"},"content":{"rendered":"<p>Cryptocurrency analyst and trader Kevin Svenson believes that two key catalysts could drive a significant rise in <a href=\"https:\/\/coinengineer.net\/blog\/how-jerome-powells-speech-could-impact-bitcoin\/\">Bitcoin<\/a> (BTC). In a recent update to his 79,100 YouTube subscribers, Svenson highlighted how the stock market and global money supply could play pivotal roles in Bitcoin\u2019s recovery and its potential to reach new all-time highs.<\/p>\n<p>Svenson pointed out that the S&amp;P 500 has defied expectations, stating, &#8220;Remember, just a few weeks ago, it seemed like the world was ending\u2026 but now, the S&amp;P 500 is within less than one percent of its all-time high. It has made a remarkable comeback to those peaks.&#8221;<\/p>\n<p>He also touched on discussions surrounding the money supply and global liquidity. &#8220;What we\u2019re seeing is a rise in global liquidity; we\u2019re noticing lower highs, but we are nearing a potential breakout. Money printing is making a return, and it seems likely that we\u2019ll see rate cuts in the near future,&#8221; Svenson added.<\/p>\n<p>Looking at the monthly timeframe, Svenson observed that Bitcoin\u2019s current price behavior mirrors patterns seen in previous cycles. \u201cBitcoin is on a perfect trajectory right now. What we\u2019re observing on the monthly charts is no different from prior cycles. In 2016, after the halving, we hit new highs within a few months. The same thing happened after the 2020 halving. In 2024, while Bitcoin has yet to break new records or establish a trend, it has touched the previous highs but hasn\u2019t surpassed them. This suggests that we\u2019re in perfect sync with the timing of past cycles. Following the halving, within a few months, we\u2019re likely to begin climbing to new highs. Everything looks great for Bitcoin right now, and despite the volatility, things are on track.\u201d<\/p>\n<p>At the time of writing, Bitcoin is trading at $60,943.<\/p>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency analyst and trader Kevin Svenson believes that two key catalysts could drive a significant rise in Bitcoin (BTC). In a recent update to his 79,100 YouTube subscribers, Svenson highlighted how the stock market and global money supply could play pivotal roles in Bitcoin\u2019s recovery and its potential to reach new all-time highs. Svenson pointed<\/p>\n","protected":false},"author":1,"featured_media":26482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,60,8126],"class_list":["post-27545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-btc","tag-kevin-svenson"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kevin Svenson Outlines Two Factors That Could Trigger a Bitcoin Surge - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/kevin-svenson-outlines-two-factors-that-could-trigger-a-bitcoin-surge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kevin Svenson Outlines Two Factors That Could Trigger a Bitcoin Surge - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency analyst and trader Kevin Svenson believes that two key catalysts could drive a significant rise in Bitcoin (BTC). 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