A top trader with a history of accurate market calls is warning Bitcoin (BTC) bulls not to get ahead of themselves with outlandish price targets.
Pseudonymous crypto trader and analyst Dave the Wave tells his 139,000 Twitter followers that too many are posting Bitcoin price targets that follow a straight diagonal resistance and lead somewhere in the six digits.
Dave the Wave instead uses logarithmic growth curves (LGCs) to chart Bitcoin’s potential trajectory, showing declining volatility and thus smaller rallies and less dramatic corrections over time.
The LGC is designed to estimate Bitcoin’s highs and lows throughout its lifetime while ignoring short-term volatility.
says the trader
“Watch out for the BTC charts with longer term projected straight lines, channels and parallels that will multiply for price targets in the next bull run.
Exactly what led me most astray last time.”
Looking at the trader’s chart, the LGC model seems to predict that Bitcoin could rise above the $200,000 level before the end of 2026.
Dave the Wave also says that while BTC is “relatively high” after its strong performance so far this year, the crypto king is still in the opportunity zone for long-term investors as it hovers around $30,000.
“Yes, the price is relatively high.
But BTC is still in the LGC buy zone for investors.”
Dave the Wave recently said that the bottom of Bitcoin is probably already in and the question now is how high BTC can go.
“With a consensus that the BTC bottom is in place, the question is increasingly raised of what the next top might be. A proportionate response within the parameters of the LGC… active since 2018.”
The trader provided a chart predicting a Bitcoin price of $157,512 by 2025.
At the time of writing, Bitcoin is trading at $29,843.
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Image generated: Midway through the journey