Winter in the cryptocurrency market is not over yet, and there are different rumors about when it will end. In fact, there are those who predict the apocalypse and say that the market will never see spring again. However, one crypto analyst who predicted the collapse of Bitcoin (BTC) in May 2021 is hopeful for the years to come. He is so hopeful that the analyst predicts a meteoric rise for the leading crypto in the coming years.
The leading crypto Bitcoin (BTC) is worth 350 thousand dollars!
Dave the Wave pseudonymous analyst evaluates the latest developments in the market. In this direction, the analyst keeps the pulse of the leading crypto Bitcoin (BTC). Based on the logarithmic growth curve (LGC) model, Dave the Wave suggests that Bitcoin will rise to $350,000 by December 2027. The analyst reports from the heights of his dreams, saying “it could be $350,000”.
Source: Dave the Wave / TwitterAccording to the analyst, the LGC model is suitable for tracking Bitcoin’s long-term rise amid changing macroeconomic forces. Dave the Wave also states that the LGC model has held up so far despite wild fluctuations in investor sentiment.
The upper range of the LGC model has been serving as a historic resistor since 2018. The chart also shows that despite the extreme bearish trend in BTC, the lower bound of the pattern is currently acting as support.
Source: Dave the Wave / TwitterDave the Wave says LGC can keep investor expectations more in line with the markets during periods when BTC is trading near the top or bottom of the pattern. Based on this, the analyst makes the following statement:
It’s easy to say ‘up’ above and ‘down’ below. It is not so easy to say ‘down’ at the top or close to it, ‘up’ at the bottom or close to it. That’s what LGC fixes.
Source: Dave the Wave / TwitterAt press time, Bitcoin is trading at $17,109, hovering just above the support level of the LGC pattern. In addition, the leading crypto recorded an increase of 0.9% on a daily basis and 3.25% on a weekly basis. However, it is far from the $69k peaks it saw about a year ago.
Dave the Wave’s hit predictions
cryptocoin.com As you follow, the analyst suggested that Bitcoin will drop to $ 6,400 in mid-2019. Later, the lead regressed to the crypto analyst’s target and affirmed it. Also, Dave the Wave has predicted over the past years that Bitcoin will hit $11,000 and then plunge to $8,000. The analyst was right in this prediction as well. Meanwhile, when the crypto market began to rally in 2020, the analyst claimed that Bitcoin would hit above $11,000 by February. Dave the Wave won this claim as well. The analyst’s notorious prediction was Bitcoin’s fall in May of 2021.
