Dave the Wave currently predicts a significant increase for the top cryptocurrency, Bitcoin (BTC).
According to the analyst’s logarithmic growth curve (LGC), Bitcoin might reach $160,000 by January 2025.
He expressed his opinion about Bitcoin on Twitter and claimed that it would likely increase by a factor of ten during the next few years.
Despite the dread and gloom surrounding the cryptocurrency markets, Dave the Wave claims that the LGC model still tracks Bitcoin’s price movement.
He continues by saying that the model’s baseline will continue to function as support, much like how the LGC’s peak did so during the previous bull market.
The analyst tweeted : “The previous ‘bubble’ is effectively ‘popped.’ However, it is quite something else in the aggregate. Where the speculative excess culminates in a series of punctuated peaks, the corrections provide a baseline of sorts, with this baseline representing a logarithmic growth curve.”
It’s interesting to see that not everyone agrees with Dave the Wave’s bullish views on Bitcoin.
Bluntz, a well-known cryptocurrency expert, released his own chart and criticised it for being unpleasant.
He declares that unless Bitcoin falls below $17000, he has no immediate plans to buy any.
The analyst who correctly predicted Bitcoin’s bearish low in 2018 is known on Twitter as Bluntz, or “the smart contractor.”
If his chart is any indication, BTC still needs to endure a couple more lows before any relief materialises.