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Enjoying a following from investors worldwide, this trader is known for his consistent past predictions, adding to his popularity. Despite having endured setbacks, his successful forecasts, however, make his future predictions intriguing. What does the market hold according to Dave the Wave, the successful hunter of peaks and troughs?
Predicting Peaks and Troughs: The Successful Trader
The analyst foresees an upcoming period where Bitcoin rises by more than 420% from its present value. According to Dave, Bitcoin has bottomed out, and the actual concern now is how high BTC can ascend.
“Now that there’s a consensus that BTC has bottomed out, the question of what the next peak might be is increasingly coming up. A proportional response within the parameters of the LGC (Logarithmic Growth Curve)… It has been performing since 2018,” he remarks.
He predicts the leading cryptocurrency will continue to distance itself from the bottom and start its sprint towards the bull peak.
Bitcoin Bull Season Target
But at what figure will it reach a new all-time high (ATH)? The trader believes a peak of $157,512 for Bitcoin will be reasonable by 2025. This prediction is based on the logarithmic growth curve, taking little account of short-term volatility and other technical setups.
According to the analyst, the Bitcoin price has already bottomed out, similar to the price model that led to a multi-year Bitcoin bull run in 2016.
In May, the crypto trader stated that there were robust support levels in the range of $22,000 to $26,000 for Bitcoin. And earlier this month, while Bitcoin was trading at approximately $25,000, he consistently emphasized the need to maintain critical support.
If the analyst’s predictions prove correct, any level below $157,512 for BTC seems reasonable for buying. However, there’s no guarantee that most altcoins will survive until 2025. It’s important to remember that the top 100 cryptocurrencies largely change in each cycle, and familiar faces become history.
