The Crypto Analyst Who Got Bitcoin (BTC) collapse last year predicted a huge rally for the crypto royal.
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 rise to $160,000 by January 2025.
“Based on LGC standing the test of time for four years, BTC could easily do 10x more in the next few years…”
The LGC model is the analyst’s experience to forecast the highs and lows of the Bitcoin cycle amid changing macroeconomic conditions.
According to the crypto strategist, LGC and his prediction remain valid as long as Bitcoin remains above the support of the pattern on a multi-month basis.
“As for when LGC can be invalidated by future price – a multi-month close significantly below the underlying curve, as this is a macro pattern.”
Dave the Wave also says the LGC model continues to track Bitcoin price action despite the gloom and doom surrounding the crypto markets.
“BTC LGC base has proved to be the best price support so far.
The rising real correction of cycles [23% – 38% – 50%] implied in the chart from a year ago…
Fracture? More like confirmation.”
He also believes the baseline of the pattern will continue to act as support just as the top of the LGC served as resistance during the last bull market.
“The previous ‘bubble’ has effectively ‘burst’. It’s something else altogether. When speculative excess culminates in a series of broken peaks, corrections serve to provide some sort of baseline, which baseline is a logarithmic growth curve.
At the time of writing, Bitcoin changed hands at $15,507, a minor drop for the day.
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