The Analyst Who Predicted the 2021 Crypto Crash Believes Bitcoin Will Soar to New Heights
A well-known trader, who accurately predicted the cryptocurrency market crash in 2021, has expressed his belief that Bitcoin (BTC) is poised to reach much higher prices. Dave the Wave, a pseudonymous crypto analyst, recently shared a chart on social media outlining a potential scenario for the top cryptocurrency over the next year.
According to the chart, BTC is projected to surge to around $70,000 in Q1 2024 before experiencing a correction to approximately $35,000 by mid-year. However, it is then expected to skyrocket to $180,000 by early 2025. The analyst initially shared this chart in November and reposted it over the weekend.
Dave the Wave also provided another chart indicating that BTC has exited the “buy zone” of his logarithmic growth curve (LGC). This model aims to predict Bitcoin’s market cycle highs and lows while filtering out short-term volatility. The chart suggests that BTC is currently in an upward trend towards Dave the Wave’s target of $70,000.
Addressing market behavior, Dave the Wave highlights that people tend to become interested in buying when prices are high instead of taking advantage of rational and relatively low prices. He expresses surprise at being asked whether it’s a good time to buy after more than a year in the BTC LGC buy zone followed by an exit and subsequent re-entry.
At the time of writing, Bitcoin is trading at $49,452. The cryptocurrency has experienced a nearly 15% increase over the past week and more than a 17% increase over the past month.
The post Bitcoin Has Left the Station and Is Headed for Much Higher Prices, Says Analyst Who Called 2021 Crypto Collapse appeared first on The Daily Hodl.
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding. A guiding star for both intrepid explorers and curious novices venturing into the crypto realm, Daisy’s insights form a compass for discerning decision-making amidst the ever-shifting currents of cryptocurrencies. With the touch of a literary artist, they craft a narrative that enriches the evolving mosaic of the crypto landscape.