An analyst with a history of making timely Bitcoin calls believes that BTC is grinding toward a massive new all-time high as the market evolves.
Pseudonymous analyst Dave the Wave tells his 153,800 followers on the social media platform X that Bitcoin is on track to follow his version of the logarithmic growth channel (LGC) curve and print an all-time high of $220,000.
[adinserter block="1"]
The LGC curve aims to predict Bitcoin’s longer-term cycle lows and highs while filtering out shorter-term volatility.
He also says Bitcoin may be moving away from the parabolic moves that were indicative of prior cycles.
“Many are now describing the different nature of this BTC cycle. For years, I have predicted the ‘maturing of the market’ with the price action of cycles moving from a parabolic to a more technical nature…
A maturing market not only explains the qualitatively different nature of this cycle but also explains the LGC [logarithmic growth curve] itself.”
Next up, the analyst says that Bitcoin appears to be locked in a narrow range for now as it trades between $100,000 and $110,000.
“BTC bring it on.”
Lastly, the analyst says that Bitcoin is showing market strength by continuing to trade above $100,000 on the weekly chart.
“BTC holding up.”
Bitcoin is trading for $107,083 at time of writing, up 1.9% in the last 24 hours.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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 assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
