Prominent crypto analyst Dave the Wave has recently provided a bullish narrative for Bitcoin, even in the face of the flagship crypto’s recent setback. He suggested that Bitcoin could potentially rise to as high as $300,000 based on his logarithmic growth channel (LGC) indicator. In addition, his analysis pointed towards a rally to this unprecedented price level occurring sometime in 2025. Meanwhile, in the short term, Dave the Wave expects Bitcoin to surpass $100,000 later this year. His observation of an ascending diagonal line, which Bitcoin has maintained as support despite its recent decline, indicates that the flagship crypto may continue on a multi-month upward trend as long as it stays above this line.
Crypto analyst Rekt Capital also shared a similar sentiment, suggesting that there is no immediate cause for concern regarding Bitcoin’s pullback. He pointed out that this pullback was anticipated based on historical tendencies and that it was long overdue. Rekt Capital predicts that Bitcoin will consolidate in a Re-Accumulation range for some time before potentially breaking out into a ‘Parabolic Uptrend’ phase, likely in September of this year. This aligns with Dave the Wave’s prediction of Bitcoin surpassing $100,000 later in the year. However, Rekt Capital also warned investors about potential shakeouts, noting that Bitcoin’s price could drop to as low as $60,000, leading to increased fear in the market. He emphasized that this fear often precedes significant financial opportunities.
Crypto analyst Mikybull Crypto echoed Rekt Capital’s sentiments, emphasizing that Bitcoin is still within a range and advising investors not to be shaken out of their positions. He had previously called for patience as BTC consolidates in this range and highlighted a wedge formation that could potentially propel Bitcoin’s price to an initial target of $85,000 upon breakout.
Another crypto analyst, Jelle, suggested that now is the time for Bitcoin investors to exercise patience and refrain from making impulsive decisions. He recommended simply sitting tight and observing the market dynamics without taking any drastic actions.
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