Bitcoin Price Increase to $180,000 Is Potential, Says Analyst Who Predicted Major Crypto Crash

The crypto expert who correctly predicted Bitcoin’s collapse in May 2021 claims BTC is flashing indications that suggest the king cryptocurrency is preparing for a major upward rise.

Dave the Wave, a fictitious analyst, informs his 134,500 Twitter followers that various technical indications are now optimistic for Bitcoin.

According to Dave the Wave’s chart, Bitcoin looks to be following its technical setup from the second quarter of 2019, when BTC rose from about $4,000 to $14,000 in a few months. According to the expert, the MACD, a trend-reversal indicator, is lingering in the same region as it did before the 2019 BTC boom. Similar to Bitcoin’s Q2 2019 setup, the histogram, which analyzes the convergence or divergence of the moving averages, is on the rise.

Using his logarithmic growth curve (LGC) model, the crypto strategist predicts Bitcoin will increase by 676 percent by 2024.

The LGC is the analyst’s effort to forecast Bitcoin’s bear and bull cycles in the context of fluctuating macroeconomic circumstances. According to Dave the Wave, the LGC model is intended for Bitcoin investors with a long-term horizon.

“BTC charts are for investors – purchasing in a few tranches over a decent amount of time… with the price in the ‘buy zone’… might prove to be a profitable investment in the future.” At the time of writing, the price of Bitcoin is $23,171, a slight gain over the previous day.

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