Svenson remains optimistic, noting that Bitcoin is still in a long-term upward trend and may surpass its previous record of roughly $74,000.<\/p>\n
Svenson expressed his confidence, stating that he expects Bitcoin<\/a><\/strong> to break its current record later this year, likely by Q4. However, he also cautioned that some short-term pullbacks might occur before that.<\/p>\n He pointed out that Bitcoin could retest the $58,000 level before pushing higher, with the relative strength index (RSI) potentially bouncing from support before moving into overbought territory. According to Svenson, while these short-term dips are possible, they don\u2019t change his long-term bullish outlook.<\/p>\n