Analyst Who Nailed May 2021 Bitcoin Collapse Unveils Massive BTC Price Target – Here’s How Long Traders May Have To Wait
The carefully tracked crypto strategist who precisely referred to as Bitcoin’s Could 2021 crash says he may see BTC rising exponentially within the coming years.
Dave the Wave tells his 118,000 Twitter followers that based mostly on his logarithmic progress curve (LGC) mannequin, Bitcoin may probably witness a rise of over 1,100% over the subsequent 4 years.
“Who’s to say we don’t get one thing like this? The principle thought at play on this chart is the multi-year trendline, chopping by the LGC, capabilities as a *imply* of value.”
Wanting on the chart, the crypto strategist predicts a sustained Bitcoin rally to $260,000 by 2026.
Along with predicting the Could 2021 collapse, Dave the Wave additionally referred to as BTC’s capitulation to round $25,000 in April this yr when Bitcoin was buying and selling at round $43,000. In each situations, the crypto strategist relied on the LGC mannequin.
Dave the Wave highlights that the LGC has been predicting the tops and bottoms of BTC since 2018.
“Properly, unsurprisingly, they had been thought [to be conservative] in 2018 when first employed. That value has now tracked the peak and depth of these curves for a great few years ought to make them much less shocking…. although maybe nonetheless undesirable for some.”
As for his short-term outlook on Bitcoin, the analyst says BTC is gearing as much as rally to his goal at $25,000.
“Bitcoin within the longer-term purchase zone for buyers. Technical analyst on the shorter-term [always more specualtive] – $25,000 goal.”
At time of writing, Bitcoin is altering palms for $21,442, within the inexperienced for lower than 1% prior to now day.
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Featured Picture: Shutterstock/Liu zishan/Natalia Siiatovskaia
