Analyst: May 2024 Presents a Great Opportunity for Bitcoin Bulls
An analyst, known as Dave the Wave, who accurately predicted the market top in 2021, believes that May of this year could be one of the last major opportunities for Bitcoin bulls. While Dave the Wave expects a correction in the first quarter of 2024, he sees it as an optimal entry point for long-term investors.
Using his version of logarithmic growth curves (LGCs), Dave the Wave predicts Bitcoin’s market cycle highs and lows while filtering out short-term volatility. He suggests that Bitcoin’s support levels will be tested in the near future, with potential consolidation around $30,000 or a correction to $38,000.
Currently, Bitcoin is trading at $41,106, showing a 1.15% decrease in the last 24 hours.
Hot Take: May Could Be the Best Time to Buy Bitcoin
According to analyst Dave the Wave, May 2024 could present one of the final great opportunities for investors bullish on Bitcoin. While a correction is expected in the first quarter of this year, it could serve as an ideal entry point for those looking to go long on Bitcoin for the next major bull market expansion. Dave the Wave’s use of logarithmic growth curves helps forecast Bitcoin’s market cycle highs and lows, filtering out short-term volatility. He suggests that support levels will soon be tested, potentially consolidating around $30,000 or correcting to $38,000. Currently trading at $41,106, Bitcoin continues to be an attractive investment option.
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