Fri Sep 20 07:04:11 UTC 2024: ## Bitcoin Analyst Predicts New All-Time Highs as Fed Rate Cuts Loom

**New York, NY** – Bitcoin (BTC) analyst and trader Kevin Svenson is optimistic about the future of the cryptocurrency, predicting it could reach new all-time highs in the coming months. In a recent strategy session on his YouTube channel, Svenson highlighted the Federal Reserve’s upcoming rate-cutting phase as a key driver for Bitcoin’s bullish potential.

Svenson believes that Bitcoin could hit a new record high as early as the fourth quarter of this year, potentially breaking through the $73,800 mark. He points to the Relative Strength Index (RSI) as a signal of bullish momentum, with a potential weekly breakout indicating a possible six-month uptrend.

“I think Bitcoin’s still set for new all-time highs in the coming Q4,” said Svenson. “There may be some chop around [$73,800], still at a slightly higher level. And then going into the New Year, that’s when we might start to see things begin to change.”

Bitcoin is currently trading at $62,951. While Svenson acknowledges potential volatility, he remains optimistic about the cryptocurrency’s long-term prospects, especially as the Fed’s rate cuts could stimulate economic growth and boost investor appetite for risk assets like Bitcoin.

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