How does Dave the Wave arrive at that course?
Dave the Wave makes this prediction based on his logarithmic growth curves model. This model takes Bitcoin’s long-term price action, guessing the tops and bottoms of multi-year cycles.
“December is traditionally a strong month for Bitcoin, which is why we get the peak at the end of 2024. As for the price, I’m not exactly sure. If it gets to the top of the channel, which it didn’t last time, I’m thinking $180,000,” said Dave the Wave.
Measured from the bottom, that would still mean an increase of more than 1,000 percent. “Realistically, if someone in the ‘buy zone’ gets in here, it would still mean a 7x. That’s pretty good,” the analyst continues.
Dave plays in the long run
Furthermore, Dave the Wave says in the interview with Wealth99 that he is not a trader who plays games of the short term. He generally does not trade on Bitcoin’s short-term price movements, but really looks at the long term.
At this point, Bitcoin is already starting to move above the “buy zone” on its chart. “I just want to add that I can speculate on the direction of the price. I am more confident that the price will remain in this channel, without indicating a specific course,” said Dave the Wave.
At the end of 2022, Dave the Wave turned bullish after, according to him, a “historic” indicator finally turned green. At the time of writing, Bitcoin is trading at $28,500 and the day has opened pretty green for the digital coin.
