A dealer recognized for making well timed crypto market calls believes that Bitcoin (BTC) has the potential to succeed in the six-figure degree a lot ahead of most consider.
Pseudonymous analyst Dave the Wave tells his 146,400 followers on the social media platform X that primarily based on historic priority Bitcoin might soar 85% from the native market backside to succeed in $100,000.
He believes that Bitcoin may very well be repeating an analogous sample from earlier this 12 months when it corrected after which soared about 85% to succeed in a brand new all-time excessive.
“If BTC made an analogous transfer to the latest one taking a look at worth knocking on the door of $100,000.”
The analyst additionally suggests that Bitcoin is in an uptrend after convincingly breaking out from a descending triangle.
“That’s some strong PA (worth motion) BTC.”
Dave the Wave stated earlier this month that Bitcoin’s latest deep correction into the $50,000 vary may very well be helpful for Bitcoin, positioning it to rally by 400% towards his bull market worth goal of $220,000 by the tip of 2025.
“Quick-term BTC ache, long-term achieve.”
Bitcoin is buying and selling for $66,937 at time of writing, down barely within the final 24 hours.
The analyst additionally says that gold seems to be heading for his all-time excessive (ATH) goal worth of $2,750.
“ATHs in gold. Outdated chart. On track.”
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Generated Picture: Midjourney