In a recent discussion on X Space, Tony Severino, a seasoned Chartered Market Technician and Bitcoin trader, shared his bold prediction for Bitcoin's future. His insights come at a time when many investors are closely monitoring the cryptocurrency market for signs of recovery. The analytical report published in the material substantiates the following: Bitcoin may be approaching a critical turning point that could signal a new bullish trend.
Severino's Ambitious Bitcoin Target
Severino has set an ambitious target for Bitcoin, forecasting that the cryptocurrency will hit $34,000 by October 2026. This prediction is grounded in a maximum drawdown of approximately 72%, a figure that aligns with historical patterns observed during previous bear markets in Bitcoin's price history.
Severino's Track Record in Crypto
What makes Severino's forecast particularly compelling is his established track record in the crypto space. He has previously demonstrated an ability to accurately predict Bitcoin's price movements, including successfully calling the market top in early 2025. His analysis employs a combination of:
- technical patterns
- statistical formulas
providing traders with a well-rounded perspective on potential market trends.
Recently, Tony Severino shared his optimistic Bitcoin forecast, but financial adviser Ric Edelman previously predicted that Bitcoin could reach $500,000 by the end of the decade. For more details, see Edelman's prediction.
