bitcoin Predicting the movement of the price in 2023, Dave the Wave shared BTC’s price predictions for the end of 2024.
Speaking in an interview on the Wealth99 YouTube channel Dave the Wavesays that the leading crypto could reach around $200,000 by the end of next year.
Dave the Wave is known for using logarithmic growth curves that plot Bitcoin’s long-term price action by predicting the highs and lows of multi-year market cycles.
“December has traditionally been a good boom month, so this peak will coincide with the end of the year. And I don’t know if the price will reach the top of this channel which it hasn’t reached before. So $180,000 is more likely.
That’s still a thousand percent lower than the bottom. To be realistic, if someone were to buy here in the ‘buy zone’… That’s still 7x. This is pretty good. And remember that even if there is a correction, this price may go down, but the LGC curve continues to rise.”
Koinfinans.com As we reported, Dave the Wave says that he does not usually try to trade with the short-term movements of Bitcoin, but continues to rely on its long-term cycles between the lower and upper part of the LGC channel. Currently, BTC is exiting the “buy zone” on the LGC chart.
“I just want to add that I can speculate about the direction of the price. I’m more confident that the price will stay in this channel, but I’m not giving a particular track within this channel.”
The closely-followed analyst was bullish on Bitcoin late last year when he said a “historical” indicator had finally turned green. BTC is trading at $27,943, up nearly 70% since Dave the Wave’s call in late December 2022.
You can follow the current price action here.