Analyst’s Track Record
Dave the Wave, a trader who accurately predicted the May 2021 crypto crash, has released a price prediction for Bitcoin (BTC) based on a reliable historical model.
Logarithmic Growth Curve (LGC)
The LGC model predicts Bitcoin’s market cycle highs and lows by filtering out short-term volatility. Dave the Wave believes Bitcoin will continue to trade within the upper and lower bounds of the LGC.
Two Scenarios
The analyst suggests two possible scenarios:
- Rational Scenario: Bitcoin continues trading within the LGC, with higher highs and higher lows over time.
- Unlikely Scenario: Bitcoin breaks above the LGC’s upper bound, leading to a sharp correction below the lower bound.
Fibonacci Target
Dave the Wave also uses Fibonacci extensions to predict a price target of $180,000 for BTC in 2025.
Current Price
As of writing, Bitcoin is trading at $51,966, up 4% in the past week.
Disclaimer: This article is not investment advice. Conduct your own research before investing in high-risk assets like Bitcoin./p>
