The crypto strategist, who correctly predicted the collapse of BTC in May 2021, predicts a steep rally on the horizon for the leading crypto Bitcoin.
The analyst, known in crypto markets by the nickname Dave the Wave, told 136.00 followers that Bitcoin could reflect the price action of early 2019. told. During this period, BTC rose from under $ 4,000 to $ 14,000 in about a few months.
“An upside BTC risk. The number can grow rapidly…”
Looking at the chart of Dave the Wave, the analyst predicts that the Bitcoin price could rise to $50,000 by May of this year in a parabolic move. At press time, BTC is trading at $24,265, which indicates that if the analyst hits his target, the leading coin will experience an increase of over 100%.
This is the analyst’s forecast in the short term. In addition, Dave the Wave also made a long-term forecast for Bitcoin. Using Elliott Wave theory, the analyst predicts that Bitcoin will hit its all-time high of $150,000 in early 2025.
“With a maturing BTC market, why at LGC? [logaritmik büyüme eğrisi] not a classical momentum wave?”
Koinfinans.com As we reported, Elliot Wave theory is a technical analysis tool that manifests in waves and predicts future price movements by following crowd psychology. According to the theory, an asset goes through a cycle of five waves in total, with the first, third and fifth waves representing ascension.
Based on Dave the Wave’s chart, the analyst expects a burst in Bitcoin to $68,000 for the third wave and then to $150,000 for the fifth wave.
You can follow the current price action here.