The crypto strategist, who nailed Bitcoin’s 2021 market meltdown, believes BTC is still on track to trigger a rally midway through the year’s new history.
Pseudonymous analyst Dave The Wave tells 149,200 followers on social media platform X that he is poised to repeat the Q4 2023 Q1 2024 rally when Bitcoin has risen by almost 180% in a few months.
Analysts share a chart suggesting that Bitcoin can reach its price target by November this year.
“The repetition of BTC will see $200,000 at the end of the year.”
Source: Dave the Wave/x
Traders say they know he’s making bullish Bitcoin forecasts despite an uncertain macroeconomic background. Dave the Wave says uncertainty drives investors to seek evacuation to BTC.
“There were comments that I was worried about the macro environment.
This was covered in a recent article. In this article, BTC is caught up in liquidity events that affect asset prices, but it is more than an asset. It is also a currency, a type of liquidity, digital gold, whose capital is carried out in an age of uncertainty. ”
Analysts also say BTC looks weak now, as investors had very high hopes for Bitcoin when they violated the $100,000 level.
“Why a huge BTC panic?
Because my previous expectations were too high. ”
Dave the Wave also says he will remain bullish on Bitcoin as long as BTC is trading above critical support levels.
“That level is S74,000. I don’t want to see a price below that.”
At the time of writing, Bitcoin was trading at $76,501, down more than 4% that day.
Generated Image: Midjourney
