Bitcoin investors should be careful in the coming weeks. Famous analyst Dave The Wave, who predicts the collapse of Bitcoin in 2021, says BTC may face a similar scenario. Although the analyst foresees a major correction in the short term, it draws attention to the rise potential of Bitcoin in the long run.
Leading crypto currency can also be a big correction!
Bitcoin may experience a big correction in the near future. Famous crypto analyst Dave The Wave, who predicts the collapse of Bitcoin in May 2021, says that the BTC may experience a harsh decline again in the coming weeks. This prediction can lead to fluctuations in the market.
Dave The Wave said that Bitcoin could repeat last year’s price movements to 147,300 followers in the social media platform X. At that time, the BTC made a peak of around $ 74,000 and then fell below $ 50,000.
How deep can the correction be in Bitcoin?
Analyst thinks Bitcoin may decline to the level of 0.382 fibonacci, ie around $ 81,000. Fibonacci levels are used by investors to determine potential input and output points. This estimate can lead investors to be careful.
Dave The Wave emphasizes that this decline is temporary. According to the technical analysis, Bitcoin will recover after this correction has ended. This recovery is expected to carry Bitcoin up to 260,000 dollars by the end of the year.
Long -term rise hope
Dave The Wave is based on the Logarithmic Growth Curve (LGC) model and MACD indicator. The LGC model predicts the summit and bottom points of Bitcoin’s market cycle, while the MACD indicator determines the direction of the trend and the possible rotational points.
Analyst says Bitcoin currently has a wide range of motion on the LGC channel. This means that BTC has a great rise potential in the long run. Dave The Wave’s view implies that investors can consider the periods of fall as an opportunity.
Critical levels in Bitcoin
Bitcoin is currently trading for $ 95,909. The analyst says the price may decline at this level, but it is inevitable to recover. For long -term investors, this period is thought to be full of opportunities.
It seems more important than ever to be prepared for market fluctuations. The analyst’s warnings point to a new mobility in the crypto world.
