Analysts who accurately predict major turning points in the markets in the past continue to draw attention in the future. Of course, this does not make them prophets, and their chances of error are not significantly lower than other analysts. So, what does the popular analyst who predicted the crash in 2021 expect for the end of this year and 2024?
Dave the Wave, who accurately predicted the crypto crash in 2021, has been making predictions about the markets for years. According to the analyst, the rise of BTC will continue amidst growing concerns because the weekly momentum remains strong. Meanwhile, the price of Bitcoin finds buyers at $36,500 and remains relatively stable throughout the day.
Dave the Wave is not concerned about short-term fluctuations and investor anxiety, and his bold prediction is supported by the graph of logarithmic growth channels (LGC), which aims to predict the peak and bottom points of the market cycle. As you may recall, we had a few fragmented PlanB graphs. This graph, which became useless in 2022, claimed to show the future in the fourth quarter of 2022.
He refers to the lower band of LGC as the “buy zone” for long-term Bitcoin holders, as this zone has marked the price accurately since the end of 2022. The analyst wrote the following on his X account:
“Short-term fluctuations are always the hardest to predict.
Prepare yourself for that. Although the daily momentum has decreased, the weekly BTC momentum is still on the rise.
Technically, while the price is still in the LGC buy zone, a move towards higher levels is possible for long-term investors.”
According to the mysterious analyst, bulls can confidently target new highs as the MACD indicator signals an uptrend. The trader also says that Bitcoin is potentially on a “sustainable” path towards all-time highs. The analyst looks at the monthly chart and says that the price has the potential to reach the ATH region within just one month.
But will the rally be that fast? Dave the Wave appears to be more cautious, expecting a steady and slow rise.
“What is interesting here is that, compared to previous ones, the fact that the price of BTC reaching all-time highs lasts only one month… And yet, the price is not going parabolic like last time.
So, there is still the potential for more sustainable prices at these levels.”