A crypto analyst who correctly predicted the 2021 Bitcoin crash thinks BTC could see a significant drop before a major price surge.
Potential Price Drop and Subsequent Surge
Dave the Wave, a popular analyst on X (formerly Twitter), believes Bitcoin might fall to around $82,000. He bases this prediction on a repeating pattern observed in 2023 and 2024, and the use of Fibonacci retracement levels, a common trading tool. While this sounds bearish in the short term, Dave the Wave suggests this dip could be a prelude to a massive 119% rally, potentially pushing Bitcoin to $180,000.
Long-Term Outlook: A Mid-Year Peak?
Looking further ahead, Dave the Wave uses logarithmic growth curves (LGCs) to predict Bitcoin’s overall market cycle. His analysis suggests Bitcoin could peak sometime around mid-year. This prediction is based on historical price action in relation to the one-year moving average and his LGC channel.
Current Price and Disclaimer
At the time of writing, Bitcoin is trading at approximately $94,502. It’s important to remember that these are predictions, and the cryptocurrency market is highly volatile. Investing in cryptocurrencies carries significant risk, and you should always do your own research before making any investment decisions.
