He is now anticipating a massive rally in the major cryptocurrency. Based on his Logarithmic Growth Curve (LGC), the analyst predicts that Bitcoin could surge to $160,000 by January 2025.
He took to Twitter to share his thoughts on Bitcoin and said that it could easily make 10x over the next two years.
Dave the Wave says that the LGC model continues to track bitcoin price action despite the doom and gloom surrounding the cryptocurrency markets.
He adds that the baseline of the pattern will continue to act as support, just as the LGC top served as resistance during the recent bull run.
The previous “bubble” effectively “burst”. However, it is something else entirely. Where speculative excess culminates in a series of intermittent peaks, corrections provide a baseline of sorts, with that baseline representing a logarithmic growth curve,” the analyst said on Twitter.
At the time of writing, Bitcoin was trading at $16,613, down about 1% in the past seven days.
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