- Analyst Dave the Wave, who accurately predicted the crypto market meltdown in May 2021, believes that Bitcoin's current bear market and correction from its 2023 high will likely continue until the end of the year.
- Dave the Wave uses his version of #logarithmic growth curves (LGC) to forecast Bitcoin's macro highs and lows while filtering out short-term volatility.
- BTC is currently #trading near the bottom of Dave the Wave's LGC, in the "buy zone," indicating potential for an upward move.
- He suggests that BTC might experience a slight #downward movement until next year before pushing to new all-time highs above $69,000 by the middle of 2024.
- Dave the Wave points out that the monthly moving average convergence divergence (MACD), a long-term momentum indicator, has also flipped bullish, adding to the positive outlook.
- He believes that current #BTC prices are reasonable for investment based on the LGC and the #bullish MACD.
- As of the current time, Bitcoin is trading at $25,990.
$BTC $
