Dave the Wave, a pseudonymous trader and analyst, has predicted that Bitcoin’s market structure is potentially on track to approach the $200,000 mark if all goes well, based on the moving average convergence divergence (MACD) indicator on the monthly chart. The MACD, traditionally used to spot trend reversals and confirm trends, is signaling strong bullish momentum for BTC.
In a Twitter post to his 143,000 followers, Dave the Wave shared a chart that predicts a rally above $200,000 for Bitcoin by December 2025. He also notes that there could be too much consensus on the potential rally, which opens up the possibility of BTC hitting his upside target way sooner than his initial timeline.
Dave the Wave uses his own version of logarithmic growth channels (LGCs) to project the highs and lows of Bitcoin’s long-term market cycles. According to his analysis, Bitcoin has been in the “buy zone” of the LGC for almost a year and a half and looks close to breaking out.
At the time of writing, Bitcoin is trading at $38,784. The potential for Bitcoin to reach $200,000 has generated significant interest and discussion among cryptocurrency enthusiasts and investors.
Historically, Bitcoin has experienced significant price fluctuations, from reaching highs of over $60,000 in 2021 to lows of under $4,000 in 2020. With the potential for a major rally in the future, investors are closely monitoring the market for any developments that could impact Bitcoin’s price.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that transfers and trades are at your own risk, and any losses incurred are your responsibility. It’s important to note that The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please also note that The Daily Hodl participates in affiliate marketing.
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