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Experienced cryptocurrency analyst Dave The Wave predicts that Bitcoin (BTC) will potentially experience a significant price breakout in 2025. The analyst expects Bitcoin to reach $300,000 and even surpass this level.
2025 Points to the Real Rise of Bitcoin
Anonymous cryptocurrency analyst Dave The Wave expects Bitcoin’s block reward halvings to become less significant as the market matures, but still expects them to continue to act as a price stimulus. Dave The Wave points out that the price of the largest cryptocurrency historically rises when it intersects with the lower band of the Logarithmic Growth Curve (LGC) of the monthly closing peak. He notes that Bitcoin is currently on the brink of another rise.
The analyst predicts that Bitcoin will climb to its previous peak (around $69,000) in 2024 and then experience a major breakout in 2025. Dave The Wave expects the largest cryptocurrency to reach $300,000 and even surpass this level in 2025, following its peak breakout in 2024.
The Logarithmic Growth Curve (LGC) is a model commonly used by investors to determine and interpret long-term price trends in assets that exhibit exponential growth, such as Bitcoin. The LGC has provided a consistent outlook in predicting significant price events for Bitcoin in the past, adding credibility to Dave The Wave’s latest prediction.
Spot Bitcoin ETF Hype Quickly Subsides
Following the appeals court overturning the U.S. Securities and Exchange Commission’s (SEC) decision to block Grayscale Investments’ Bitcoin ETF application, the initial hype quickly diminished, resulting in a decline in Bitcoin’s price and Grayscale’s Bitcoin Trust shares. The long-awaited spot Bitcoin ETF, once seen as a gateway to the cryptocurrency market for mainstream investors, failed to sustain interest, particularly due to waning enthusiasm for continuous Bitcoin swaps.
According to CoinMarketCap data, Bitcoin is currently trading at $25,681, representing a 0.86% decrease in the past 24 hours. During the same time period, the trading volume of the largest cryptocurrency stood at approximately $6 billion, with a market capitalization just above $500 billion.
