Bitcoin (BTC) Set to Surge by Over 400%, Predicts Leading Cryptocurrency Analyst

A Crypto Analyst Predicts a Big Surge for Bitcoin

A well-known crypto strategist, Dave the Wave, believes that Bitcoin is on the verge of a significant upward move. According to his analysis, Bitcoin could potentially reach $50,000 before experiencing a correction to just under $35,000. After this correction, Dave the Wave predicts that Bitcoin could rally to a price of up to $180,000, representing a gain of about 424% from its current levels. He suggests that this six-figure price target may be reached by April 2025.

A Mini-Parabolic Surge Ahead of the Halving

In another chart, Dave the Wave predicts that Bitcoin will experience a mini-parabolic surge ahead of the halving, similar to what happened prior to the 2020 halving. The halving is scheduled for April 2024 and involves cutting BTC miners’ rewards in half. Based on his analysis, Dave the Wave suggests that this mini-parabolic rally could push Bitcoin slightly above its all-time high of around $69,000.

MACD Indicator Shows Long-Term Bullish Trend

Dave the Wave also points out that the moving average convergence/divergence (MACD) indicator indicates a shift into long-term bullish mode for Bitcoin. The MACD indicator is used to identify trend strength and direction. This further supports his prediction of a significant surge in Bitcoin’s price.

Bitcoin’s Current Price

At the time of writing, Bitcoin is valued at $34,342.

Hot Take: Bitcoin Poised for Explosive Growth

According to crypto analyst Dave the Wave, Bitcoin is set to experience a massive surge in price. His analysis suggests that Bitcoin could potentially reach $50,000 before correcting to just under $35,000. After this correction, Bitcoin could rally to a price of up to $180,000. Additionally, Dave the Wave predicts a mini-parabolic surge ahead of the halving in 2024, potentially pushing Bitcoin above its previous all-time high. The MACD indicator also indicates a long-term bullish trend for Bitcoin. With these factors in mind, it seems that Bitcoin is primed for explosive growth in the coming years.