Despite a recent setback, prominent crypto analyst Dave the Wave has provided a bullish narrative for Bitcoin. He suggested in a post on X (formerly Twitter) that Bitcoin could rise to as high as $300,000 based on his logarithmic growth channel (LGC) indicator. According to the chart he shared, BTC’s rally to this unprecedented price level is expected to happen sometime in 2025. In the short term, Dave the Wave expects Bitcoin to rise above $100,000 later this year. He highlighted an ascending diagonal line, which Bitcoin has continued to hold as support even following its recent decline below $67,000. As long as Bitcoin holds above this line, Dave the Wave believes that the flagship crypto will remain in a multi-month upward trend.
Crypto analyst Rekt Capital also suggested that there was no need to worry about Bitcoin’s recent pullback. According to him, this pullback was long overdue based on historical tendencies. He expects Bitcoin to continue consolidating in a Re-Accumulation range for a while. Rekt Capital predicts that the breakout into the ‘Parabolic Uptrend’ phase will likely come in September this year, if history repeats itself. This aligns with Dave the Wave’s prediction that Bitcoin will rise above $100,000 later this year. Rekt Capital warned Bitcoin investors about being shaken out of their positions, stating that Bitcoin will soon be transitioning into “increasingly fearful territory” as its price drops to as low as $60,000. He added that this “fear tends to precede the point of maximum financial opportunity.”
Crypto analyst Mikybull Crypto also shared a sentiment similar to Rekt Capital’s. He stated that BTC is still in the range and advised investors not to get shaken out. The analyst had earlier called for patience while BTC consolidates in this range. He highlighted a wedge that he claimed would send Bitcoin’s price to an initial target of $85,000 when a breakout occurs.
Crypto analyst Jelle suggests that this is the time for Bitcoin investors to do nothing and just sit on their hands. This advice echoes the sentiments of other analysts who believe in the long-term potential of Bitcoin despite short-term fluctuations. By holding onto positions and remaining patient, investors may reap the benefits of Bitcoin’s future price movements.
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