A crypto analyst known for accurate Bitcoin predictions is forecasting a significant price increase for Bitcoin, but with a twist.
A Bullish Outlook, But With a Dip
Dave the Wave, a popular analyst with a large following on X (formerly Twitter), is bullish on Bitcoin’s future. He’s using the Moving Average Convergence Divergence (MACD) indicator, a tool that helps predict market trends, to support his claim. According to his analysis of Bitcoin’s weekly MACD, the cryptocurrency is poised for a substantial rise, potentially reaching a diagonal resistance line that has historically marked market peaks since 2012. He suggests this could drive Bitcoin’s price to $160,000 by the end of the year.
Long-Term Bullish, Short-Term Correction?
Dave the Wave’s optimism extends beyond the short term. His analysis of the monthly MACD also points to a longer-term upward trend for Bitcoin. However, he anticipates a short-term dip to around $98,000 before the price takes off again. He sees this potential dip as a healthy consolidation before further price increases.
Current Price and Disclaimer
At the time of writing, Bitcoin is trading around $104,348. It’s important to remember that this is just one analyst’s opinion, and cryptocurrency investments are inherently risky. Always do your own research before investing.
