A popular crypto trader, who has pinpointed Bitcoin’s 2023 trend reversal, predicts BTC’s next cycle high, which he predicts will be in late 2024.
In a new interview on Wealth99’s YouTube channel, pseudonymous trader Dave the Wave says the crypto king can reach nearly $200,000 by the end of next year.
Dave the Wave is known for using logarithmic growth curves that depict Bitcoin’s long-term price action by estimating the highs and lows of multi-year market cycles.
“December was traditionally a good boom [month] right, so that peak would come at the end of the year. And the price, I don’t know if it’ll hit the top of that channel – it wasn’t before – so I’m thinking $180,000…
That’s still a thousand percent off the ground. Realistically, if someone buys in the “buy zone” here… That’s still 7X. That’s very good. And keep in mind that even with the correction, this price could go down, but the LGC curve continues to tumble up.”
Source: Wealth99/Dave the Wave/YouTube
Dave the Wave says he doesn’t typically try to trade BTC’s short-term moves but remains confident about its longer-term cycles between the bottom and top of the LGC channel. BTC is currently exiting its “buy zone” on the LGC chart.
“I just want to add that I can speculate on the direction of the price. I am more confident that the price will stay in this channel without giving any specific track inside this channel.”
The closely-followed analyst turned bullish on Bitcoin late last year when he said a “historic” indicator finally turned green. BTC is trading at $27,943 as of this writing, up about 70% since Dave the Wave made his call in late December 2022.
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