Dave the Wave Predicts Bitcoin’s Future
The crypto trader who accurately predicted the crypto market crash of 2021 believes Bitcoin (BTC) is poised to reach much higher prices. The analyst, known as Dave the Wave, shared a chart with his followers outlining a possible scenario for Bitcoin’s price over the next year or so.
Bitcoin’s Potential Price Trajectory
According to Dave the Wave’s chart, Bitcoin could jump to around $70,000 in the first quarter of 2024, then correct down to around $35,000 by the middle of the year, before taking off to $180,000 by early 2025.
Bitcoin Leaves the “Buy Zone”
Dave the Wave also shared a chart that suggests Bitcoin has left the “buy zone” of his logarithmic growth curve (LGC), a model that aims to forecast Bitcoin’s market cycle highs and lows. The chart indicates that Bitcoin is in the midst of an uptrend en route to Dave the Wave’s target of $70,000.
Analyst’s Commentary
Dave the Wave commented on the market behavior, saying, “People always get interested in buying when the price is high… instead of buying rationally and relatively low. After well over a year in the BTC LGC buy zone, then the exit, and then the re-visit and the exit again, I’m amazed that people ask me whether it’s a good time to buy.”
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $49,452. It has gained nearly 15% in the past week and more than 17% in the past month.
