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Here’s how soon that could happen

Here’s how soon that could happen

Cryptocurrency Analyst Dave the Wave predicted Bitcoin (CRYPTO: BTC) price collapse, which took place in 2022.

Now he expects a massive increase for the apex crypto. Based on his logarithmic growth curve (LGC), the analyst predicts that Bitcoin could rise to $160,000 by January 2025.

He took to Twitter to share his thoughts on Bitcoin and said it could easily do a 1[ads1]0x in the next couple of years.

The LGC model continues to track Bitcoin’s price action despite the gloom and doom surrounding the crypto markets, says Dave the Wave.

He adds that the model’s baseline will continue to act as support, just as the top of the LGC acted as resistance during the last bull market.

“The previous ‘bubble’ has effectively ‘popped.’ However, there is something quite different in the aggregate. Where the speculative excess culminates in a series of punctuated peaks, the corrections provide a sort of baseline, with this baseline representing a logarithmic growth curve,” said the analyst on Twitter.

At the time of writing, Bitcoin was trading at $16,613, down about 1% over the past seven days.

Read next: Why this cryptoanalyst says Bitcoin will likely experience a negative move before climbing

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© 2023 Benzinga does not provide investment advice. All rights reserved.

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