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Dave the Wave, a well-known crypto analyst and trader recognized for his timely warnings, has cautioned investors in Bitcoin (BTC) not to get carried away with strange price targets. Here’s the analyst’s latest prediction about BTC.
Most Charts, Except LGC, Are Misleading According to the Analyst
Dave the Wave, an anonymous crypto analyst and trader, has warned about the increasing number of six-digit price targets based on straight horizontal resistance lines in Bitcoin charts. The analyst suggests using the Logarithmic Growth Curve (LGC) chart instead to map Bitcoin’s potential trajectory. This chart indicates that as volatility decreases, smaller price rallies will occur over time, resulting in less dramatic corrections. The LGC used by the analyst is designed to predict the highest and lowest levels Bitcoin can reach in the long term, disregarding short-term price movements.
In his Bitcoin warning, Dave the Wave addresses investors, stating, “Be cautious of long-term projected straight lines, channels, and parallels with price targets for the next bull run. This is exactly what misled most people last time.”
Looking at the Bitcoin chart shared by the analyst, it appears that the LGC chart predicts that the largest cryptocurrency could surpass $200,000 before the end of 2026.
Dave the Wave also points out that despite Bitcoin’s relatively high levels, which can sustain due to its strong performance this year, it is still in the buying zone for long-term investors around $30,000. He states, “Yes, Bitcoin is at a relatively high level, but it is still in the buying zone according to the LGC for long-term investors.”
Next Target Peak Level for Bitcoin, According to the Analyst, is $157,512
A short while ago, Dave the Wave stated that Bitcoin had bottomed out, and the main question to be answered now is how high it can rise. The analyst emphasizes a consensus that Bitcoin has bottomed out and highlights that the LGC indicates a peak level of $157,512 for the price by 2025.
As of the time of writing, the largest cryptocurrency Bitcoin is trading at $29,299, experiencing a 2.58% decline in the past 24 hours. Data shows that BTC has dropped by 2.59% and 4.63% in the last 7 days and 30 days, respectively.
