A popular analyst who accurately predicted the crash of the leading cryptocurrency Bitcoin (BTC) in May 2021 has announced that he has set a technical target for the best cryptocurrency to achieve in order to be ready for a major surge by the end of next year.
Halving Price Prediction for BTC
Popular crypto analyst Dave the Wave shared a graph on social media platform X, indicating that BTC could rise to the $70,000 level by mid-September 2024. According to the crypto analyst, Bitcoin could experience another mini parabolic move before the upcoming halving, expected to take place on April 18, 2024.
Furthermore, if BTC reaches the $70,000 level by September, Dave the Wave’s graph suggests that Bitcoin could explode with a rally similar to the one witnessed in 2017. During this rally period, the leading cryptocurrency surged from about $1,400 in May to around $20,000 in December.
A $180,000 Target for Bitcoin
Senior analyst Dave the Wave also notes that such a target is consistent with Bitcoin’s diminishing returns principle. He also shared another graph showing Bitcoin reaching the $180,000 range by April 2025. The graph shared by the analyst represents an increase of 400% from the current price point of Bitcoin.
In conclusion, crypto analyst Dave the Wave shared a graph predicting that Bitcoin (BTC) could rise to the $70,000 level by September 2024. According to the analyst, if BTC reaches this level, it could experience a rally similar to the one in 2017. This prediction also seems to be consistent with Bitcoin’s diminishing returns principle. Dave the Wave also suggests that Bitcoin could reach the $180,000 range by April 2025.
As of writing, Bitcoin is trading at $35,375. The top-ranked cryptocurrency by market value has seen an increase of 26% in the past 30 days.
