The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analyst Who Accurately Called Bitcoin Collapse Says Top Could Be Near – Here’s His New Forecast

by Daily Hodl Staff
February 21, 2021
in Bitcoin, Trading

A pseudonymous analyst who nailed Bitcoin’s plummet from $11,600 to $6,400 in 2019 says the bull market top could be on the horizon.

In a new tweet, the crypto strategist known in the industry as Dave the Wave warns his 44,700 followers that Bitcoin’s furious rally from $20,000 to an all-time high of $57,505 in a span of a few months may be running out of steam.

“More symmetries. The Fibonacci measurement from where price meets the bottom of the channel to where price would meet the top of the channel gives the previous peak as the center.

When the parabola corrects, now or a little higher, predicting a 0.38% retracement as per previous spikes.”

Source: Dave the Wave/Twitter

According to Dave, Bitcoin can potentially top out at $68,710.15 before igniting a massive correction that would send the leading cryptocurrency all the way back down to its previous bull cycle high of $20,000.

“Looking at this chart, it’s quite conceivable to see BTC back to 20K at some point. Up to the present price has spent a full 2/3s of its time in the ‘buy zone’. As the channel converges, and with increasing price discovery, it’s likely this ratio will decrease – the near-year-long speculative episodes and equally long corrections should come to dominate in an increasingly liquid market at this transitional stage. Multi-year cycles, with extended bases, could become a thing of the past.”

In the long run, however, the trader believes that it is possible for Bitcoin to eventually regain its bullish momentum and climb all the way up to $100,000.

“Say price corrected to $20,000 and then went to $100,000. The current price is exactly half-way to that target in real terms. Time wise, you also see a symmetry between the peaks.”

Source: Dave the Wave/Twitter

Last year, the trader shared his analysis of Bitcoin’s long-term trajectory, which tracks the cryptocurrency’s past price movements and increasingly long cycles. His chart shows Bitcoin could reach $500,000 sometime around 2029.

“When peaks are ‘stepped,’ they meet on the logarithmic growth curve. With each subsequent cycle – from base to peak – an extra year is added.”

Source: Dave the Wave/Twitter
Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/sdecoret

Submit a Press Release

Industry Announcements

  • BTCC Exchange Appoints Dan Liu as CEO Ahead of 14th Anniversary Milestone
    May 21, 2025
  • Bitcoin Suisse Secures In-Principle Approval From ADGM’s Financial Services Regulatory Authority
    May 21, 2025
  • Beer 2.0 – The Memecoin That’s Brewing Something Bigger on Solana
    May 20, 2025
  • Wall Street Ponke Launches With AI Tools, Learning Hub and Over $300,000 Raised in Hours
    May 20, 2025
  • Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure
    May 20, 2025
  • BingX AI Evolution Begins – A $300 Million Vision To Build the Future of AI-Powered Crypto
    May 20, 2025
  • Imrat Group Gains Priority Access to New Product – Bybit Launches Direct Stock Trading via Tether Stablecoin
    May 20, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$109,867.44
$109,867.44
2.71%
Ethereum
$2,555.46
$2,555.46
1.15%
BNB
$674.73
$674.73
3.63%
Solana
$173.93
$173.93
3.14%
XRP
$2.40
$2.40
1.79%

Spotlight

  • Here’s When It’ll Be Time To Flip Cautious on Crypto Markets, According to Analyst Jason Pizzino
    May 14, 2025
  • SEC Chair Paul Atkins Says Rational Regulatory Framework Needed for US To Become ‘Crypto Capital of the Planet’
    May 14, 2025
  • Low Cap Nasdaq-Listed Firm Reveals $300,000,000 Fundraising Plan To Acquire Crypto, Including President’s TRUMP Token: Report
    May 14, 2025
  • JPMorgan Chase Settles First Transaction on Public Blockchain Using Chainlink (LINK) and Ondo Finance (ONDO): Report
    May 14, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl