A well-known trader with a track record of accurate predictions in the crypto market indicates that Bitcoin (
BTC
) is currently following a bullish trend.
Operating under the pseudonym Dave the Wave, this analyst communicates to his 146,500 followers on the social media platform X that as long as Bitcoin maintains its position above an upward diagonal level, there is potential for the cryptocurrency to reach new all-time highs (ATHs).
“BTC still progressing as expected.”
Source: Dave the Wave/X
Dave the Wave highlights that Bitcoin could experience a dip in its value and still be considered in an upward trend as long as it remains above a diagonal support line that has been keeping BTC bullish since October 2023.
“There is still plenty of flexibility in BTC’s price movement. The dashed diagonal line holds more significance here.”
Source: Dave the Wave/X
In addition, the analyst forecasts a peak in the market for Bitcoin in December 2025 by utilizing his interpretation of the logarithmic growth channel (LGC) curve. This tool is designed to anticipate Bitcoin’s long-term cycle highs and lows while filtering out short-term fluctuations.
“If you adhere to the BTC four-year cycle theory, it may not provide much insight into the peak (again). However, the LGC theory could prove valuable once more.”
Source: Dave the Wave/X
Based on his analysis, the analyst suggests that Bitcoin could reach the top of the LGC model and surpass $300,000 by the end of 2025.
As of the time of writing, Bitcoin is being traded at $68,654, showing a slight decrease in value over the past 24 hours.
Stay Informed –
Subscribe
to receive email notifications directly to your inbox
Check
Price Action
Follow us on
X
,
Facebook
and
Telegram
Experience
The Daily Hodl Mix
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. It is important to recognize that all transfers and trades are undertaken at one’s own risk, and any resulting losses are the individual’s responsibility. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets, nor does it provide investment advisory services. Please be aware that The Daily Hodl engages in affiliate marketing.
