The trader who accurately called the 2021 crypto market crash thinks Bitcoin (BTC) is poised to go to much higher prices.
The pseudonymous crypto analyst known as Dave the Wave shares a chart with his 144,800 followers on the social media platform
In the chart, BTC jumps to around $70,000 in the first quarter of 2024 and then corrects to around $35,000 by mid-year before rising to $180,000 in early 2025. The analyst first shared the chart in November, but reposted it this way. last weekend.
Dave the Wave also shares a chart suggesting that BTC has left the “buy zone” of its logarithmic growth curve (LGC), an investment model that aims to predict the highs and lows of Bitcoin’s market cycle while simultaneously predicting short-term volatility to filter out.
Additionally, the chart indicates that BTC is in the midst of an uptrend on its way to Dave the Wave’s $70,000 target.
Say Dave de Golf,
“Market behavior: people always become interested in buying when the price is high…. instead of buying rationally and relatively low.
After over a year in the BTC LGC buying zone, then the exit, and then the revisit and the exit again, I’m amazed that people ask me if it’s a good time to buy.”
Bitcoin is trading at $49,452 at the time of writing. The crypto king has risen almost 15% in the past week and more than 17% in the past month.
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Generated image: DALLE3