A major trader with a track record of accurate market calls is warning Bitcoin (BTC) bulls not to get too far ahead with outlandish price targets.
Pseudonymous cryptocurrency trader and analyst Dave the Wave tells his 139,000 Twitter followers that too many are placing Bitcoin price targets that follow straight diagonal resistance and lead somewhere toward six figures.
Instead, Dave the Wave uses logarithmic growth curves (LGCs) to map Bitcoin’s potential trajectory, showing decreasing volatility and therefore smaller rallies and less dramatic corrections over time.
The LGC is designed to estimate the long-term highs and lows of Bitcoin over its life, ignoring short-term volatility.
says the merchant,
“Watch out for BTC charts with longer-term projected straight lines, channels, and parallels that will proliferate for price targets in the next bull run.
Exactly what threw us off the most last time.
Looking at the trader’s chart, the LGC model seems to predict that Bitcoin could rally above the $200,000 level before 2026 expires.
Dave the Wave also says that while BTC is “relatively high” after its strong performance so far this year, the king crypto is still in the opportunity zone for long-term investors, hovering around the $30,000 mark.
“Yes, the price is relatively high.
But BTC is still in the LGC buy zone for investors.”
Dave the Wave recently said that Bitcoin has likely already bottomed out and the question now is how high BTC can run.
“With a consensus that the BTC bottom is in, the question that comes up more and more is what the next top could be. A response provided within the parameters of the LGC… operating since 2018”.
The trader provided a chart that predicts a Bitcoin price of $157,512 by 2025.
At the time of writing this article, Bitcoin is trading at $29,843.
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