Analyst Who Nailed May 2021 Bitcoin Collapse Unveils Massive BTC Price Target – Here’s How Long Traders May Have To Wait
The closely tracked crypto strategist who accurately called Bitcoin’s May 2021 crash says he could see BTC rising exponentially in the coming years.
Dave the Wave tells his 118,000 Twitter followers that based on his logarithmic growth curve (LGC) model, Bitcoin could potentially witness an increase of over 1,100% over the next four years.
“Who’s to say we don’t get something like this? The main idea at play in this chart is the multi-year trendline, cutting through the LGC, functions as a *mean* of price.”
Looking at the chart, the crypto strategist predicts a sustained Bitcoin rally to $260,000 by 2026.
In addition to predicting the May 2021 collapse, Dave the Wave also called BTC’s capitulation to around $25,000 in April this year when Bitcoin was trading at around $43,000. In both instances, the crypto strategist relied on the LGC model.
Dave the Wave highlights that the LGC has been predicting the tops and bottoms of BTC since 2018.
“Well, unsurprisingly, they were thought [to be conservative] in 2018 when first employed. That price has now tracked the height and depth of those curves for a good few years should make them less surprising…. though perhaps still undesirable for some.”
As for his short-term outlook on Bitcoin, the analyst says BTC is gearing up to rally to his target at $25,000.
“Bitcoin in the longer-term buy zone for investors. Technical analyst on the shorter-term [always more specualtive] – $25,000 target.”
At time of writing, Bitcoin is changing hands for $21,442, in the green for less than 1% in the past day.
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The post Analyst Who Nailed May 2021 Bitcoin Collapse Unveils Massive BTC Price Target – Here’s How Long Traders May Have To Wait appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
