"Bitcoin May Enter Short-Term Surge Zone... Target Price Up to $150,000"

Virtual asset (cryptocurrency) analyst Kevin Svenson suggested the possibility that Bitcoin (BTC) could re-enter an upward phase. He expressed the view that, in this period, the price could reach up to $150,000.

According to The Daily Hodl, a virtual asset-focused media outlet, on the 9th (local time), Svenson said on his YouTube channel, "The Bitcoin weekly chart may be entering a 'parabolic rise' phase," and forecasted that "in this upward phase, BTC could rise to around $140,000 to $150,000."

Svenson stated, "The global liquidity (M2) index is showing a high correlation with Bitcoin's price," and added, "If the current trend continues, the bullish momentum is likely to last through October to November."

He continued, "The M2 global liquidity index and the Bitcoin price trend are nearly indistinguishable," but noted, "However, there are adjustment signals appearing in the M2 index in October to November, so it's necessary to keep in mind the potential for a peak or correction during that time."

Generally, an increase in M2 raises liquidity within the financial system, increasing investable capital, which tends to boost demand for risk assets like Bitcoin.