happened in May bitcoin According to the analyst who predicted the declines correctly, if this pattern continues, Bitcoin will not be $100,000 in December 2021.
The analyst, known as Dave the Wave, wrote to his 80,000 followers that Bitcoin has risen further in an ascending channel since it bounced off the $30,000 range in July.
According to the analyst, even if Bitcoin continues to follow this ascending channel, it cannot hit $100,000 in December.
According to the analyst, it is not impossible for Bitcoin to reach $100,000 in December. What he meant to point out is that if Bitcoin stays in the “this bullish” channel, it’s unlikely to hit $100,000. Of course, he stated that if Bitcoin can catch a different upward channel in the intervening time, it is possible for the price to reach $ 100,000.
In January 2020, Dave the Wave, renowned crypto analyst PlanB made a bet on the potential value of BTC by December 2021.
Known for applying the stock-to-flow (S2F) model to Bitcoin, PlanB expects Bitcoin to reach a market cycle peak of $288,000 by December 2021. The two analysts agreed that a $100,000 BTC by December 2021 would invalidate Dave the Wave’s model.
— dave the wave🌊 (@davthewave) July 15, 2020
“If BTC doesn’t reach $100,000 by December 2021, will Plan B eat its hat?”
Dave the Wave also suggested that Bitcoin could form a “double top” around $65,000, or a “second touch” in the price range, before heading back down. According to the analyst, Bitcoin has started to show a bearish trend on daily timeframes, indicating that a correction may be imminent.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.