Trader Who Called Bitcoin Crash Says BTC Could Easily Rally To $160,000 Here’s His Timeline

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A crypto analyst who nailed the Bitcoin (BTC) crash last year predicts a massive rise in the crypto king.

The analyst known in the industry as Dave the Wave tells his 131,900 Twitter followers that, based on his logarithmic growth curve (LGC) model, Bitcoin could hit $160,000 by January 2025 .

“Based on the LGC, which has stood the test of time for four years, BTC could easily do a 10x over the next two years…”

Source: Dave the wave/Twitter

The LGC model is analysts’ attempt to predict Bitcoin’s cycle highs and lows in a changing macroeconomic environment.

According to the crypto strategist, the LGC and its prediction remain valid as long as Bitcoin stays above the pattern support on a multi-month basis.

“As to when the LGC might be invalidated by future price, a multi-month close significantly below the base curve, as it is a macro pattern.”

Dave the Wave also says that the LGC model continues to track the price action of Bitcoin despite the ambient gloom surrounding the crypto markets.

“So far, BTC LGC base has proven to be the best price support.

The increasing real correction of the cycles [23% – 38% – 50%] is implicit in the chart from a year ago…

Breakup? Confirm instead.

Source: Dave the wave/Twitter

He also thinks that the base line of the pattern will continue to act as support, much like the top of the LGC acted as resistance during the last bull market.

“The previous bubble is effectively burst.” It’s a whole different thing altogether. Where speculative excess culminates in a series of punctuated peaks, corrections serve to provide a kind of baseline, with that baseline representing a logarithmic growth curve.

At the time of writing, Bitcoin is changing hands for $15,507, a fractional drop on the day.

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Featured Image: Shutterstock/Kalleeck

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