A seasoned crypto trader who correctly predicted the 2021 Bitcoin crash thinks a huge price surge is coming.
Analyst Predicts Bitcoin Breakout
Dave the Wave, a well-known analyst with a large following on X (formerly Twitter), says Bitcoin’s current tight trading range suggests a big move is imminent. He uses a logarithmic growth channel (LGC) chart to predict long-term Bitcoin price highs and lows, ignoring short-term fluctuations. He believes Bitcoin is close to a short-term target and could even exceed it, potentially reaching the upper half of his LGC channel. This would mirror a similar pattern seen at the peak of the 2021 bull market.
$190,000 Bitcoin Price Possible?
Dave the Wave also shared a chart using Fibonacci extensions, a technical analysis tool, suggesting Bitcoin could rally to a whopping $190,000. He points this out to those who expect consistently high Bitcoin returns.
Current Bitcoin Price and Disclaimer
At the time of writing, Bitcoin is trading around $106,124, relatively unchanged for the day. It’s important to remember that this is just one analyst’s prediction, and cryptocurrency investments are inherently risky. Always do your own research before investing.
