A crypto strategist who correctly called Bitcoin’s (BTC) collapse in May 2021 is predicting a meteoric ascent for the crypto king in the coming years.
Pseudonymous analyst Dave the Wave tells his 130,200 Twitter followers that Bitcoin could ascend to $350,000 by December 2027 based on his logarithmic growth curve (LGC) model.
“Though $350,000 might be…”
According to Dave the Wave, the LGC model is designed to follow Bitcoin’s long-term uptrend amid changing macroeconomic forces.
The crypto strategist also notes that the LGC model has held up so far despite wild swings in investor sentiment.
The range high of the model has served as historic resistance since 2018. The chart also shows that the lower boundary of the model is currently acting as support despite the extreme bearish sentiment on BTC.
Dave the Wave says the LGC could keep investor expectations more aligned with the markets during periods when BTC is trading near the top or bottom of the model.
“It’s easy to say up up up at the top, and down down down at the bottom. Not so easy is to say down at or near the top, and up at or near the bottom. The LGC fixes this.”
At time of writing. Bitcoin is trading at $17,071, hovering slightly above the support level of the LGC model.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
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 loses 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/Natali art collections/PurpleRender