Dave the Wave, a well-known crypto analyst, predicts that Bitcoin (BTC) could reach close to $200,000 by 2025.
Logarithmic Monthly Moving Average Convergence Divergence (LMACD)
Dave the Wave bases his prediction on Bitcoin’s logarithmic monthly moving average convergence divergence (LMACD), a long-term momentum indicator. He believes that the LMACD indicator shows that BTC has reached a market bottom and is in an uptrend.
Fibonacci Extension Levels
The analyst also uses Fibonacci extension levels to identify potential areas of support and resistance. According to his chart, the LGC’s support levels could be tested at the longer-term end of the channel near $30,000 or potentially at $38,000.
Logarithmic Growth Curves (LGCs)
Dave the Wave uses his version of logarithmic growth curves (LGCs) to forecast Bitcoin’s market cycle highs and lows while filtering out short-term volatility. He believes that the logarithmic chart accurately provides a longer-term view of Bitcoin’s price action.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $44,149, up more than 2% in the last 24 hours.
Opinions expressed in this article are not investment advice. Investors should do their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.