A trader who correctly predicted the crypto market crash in 2021 Bitcoin He is of the opinion that (BTC) may experience a significant price increase.
named Dave the Wave crypto- analyst chart outlining a possible scenario for the largest crypto asset by market cap over the next year shared. According to the chart, it is estimated that BTC could rise to $70,000 levels in the first quarter of 2024, then drop to around $35,000 by mid-year and reach $180,000 in early 2025. Although the analyst first shared the chart in November, he republished it this past weekend.
Dave the Wave shared a chart based on filtering out short-term volatility using Bitcoin’s investment model called the logarithmic growth curve (LGC), which aims to predict the highs and lows of the market cycle. This chart shows that BTC has left the “buy zone” and is in an uptrend towards Dave the Wave’s $70,000 target.
Dave the Wave explains that “instead of people buying rationally and at a relatively low price…. He is interested in buying when the price is high.” he said. “After BTC LGC stayed in the buy zone for over a year, then exited, and then revisited and exited again, I am surprised that people ask me if it is a good time to buy.” he stated.
Bitcoin is trading at $49,452 at the time of writing. The crypto king is up nearly 15% in the past week and more than 17% in the past month.
