Bitcoin Has Left the Station and Is Headed for Much Higher Prices, Says Analyst Who Called 2021 Crypto Collapse

The dealer who precisely known as the crypto market crash of 2021 thinks Bitcoin (BTC) is primed to go to a lot larger costs.

The pseudonymous crypto analyst referred to as Dave the Wave shares a chart together with his 144,800 followers on the social media platform X that outlines a potential state of affairs for the highest crypto asset by market cap for the subsequent 12 months or so.

The chart has BTC leaping to round $70,000 within the first quarter of 2024, then correcting all the way down to round $35,000 by the center of the 12 months, earlier than taking off to $180,000 by early 2025. The analyst first shared the chart again in November however reposted it this previous weekend.

Dave the Wave additionally shares a chart that means BTC has left the “purchase zone” of his logarithmic development curve (LGC), an investing mannequin that goals to forecast Bitcoin’s market cycle highs and lows whereas filtering out short-term volatility.

As well as, the chart signifies that BTC is within the midst of an uptrend en path to Dave the Wave’s goal of $70,000.

Says Dave the Wave,

“Market conduct: folks at all times get concerned with shopping for when value is excessive…. as an alternative of shopping for rationally and comparatively low.

After effectively over a 12 months within the BTC LGC purchase zone, then the exit, after which the re-visit and the exit once more, I’m amazed that folks ask me whether or not it’s a very good time to purchase.”

Bitcoin is buying and selling at $49,452 at time of writing. The crypto king is up almost 15% previously week and greater than 17% previously month.

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