A popular crypto analyst, known as Dave the Wave, predicts a significant Bitcoin (BTC) price surge before Christmas. This prediction comes from a positive technical analysis of the market.
A Pre-Christmas Bitcoin Rally?
Dave the Wave, who boasts a large following on X (formerly Twitter), points to an ascending price channel for BTC. This suggests a potential price target of around $112,000 by December 25th. He shared this prediction with his 147,000 followers.
Long-Term Bitcoin Outlook
Looking further ahead, Dave the Wave’s analysis, based on a weekly chart, shows BTC within a longer-term ascending channel, similar to the 2021 bull market. This suggests a potential price range of $180,000 to $220,000 sometime in the first half of 2025.
Altcoins Also in the Spotlight
Dave the Wave isn’t just bullish on Bitcoin. He also believes that altcoins are poised for a rise. His analysis shows Bitcoin dominance (the percentage of the crypto market held by BTC) is breaking down, which usually signals increased activity in other cryptocurrencies.
Four-Year Cycles and Parabolic Moves
The analyst highlights Bitcoin’s tendency to move in four-year cycles. He believes that a significant price increase (“parabolic move”) is still possible, noting that BTC hasn’t yet entered a parabolic phase in the current cycle. He sees a potential correction as a positive sign.
Current Bitcoin Price and Disclaimer
At the time of writing, Bitcoin is trading around $100,102. Remember, this information is for informational purposes only and is not financial advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
