The whole cryptocurrency industry got driven into an ocean of blood-red in May 2021, as numerous virtual tokens posted a two-digit decline. Following periods of dealing around $50k, Bitcoin hit a base of $30,000, a decline of almost 50% around its historical record of $64k.
Another well-known bitcoin expert that correctly predicted the May 2021 meltdown is sketching out a feasible pricing scenario for Bitcoin (BTC) to achieve fresh only those record levels.
Dave the Wave, an anonymous expert with 105,000 Twitter fans, predicts that Bitcoin will snip over for the following year or two until breaking through to the $70,000 barrier towards the close of 2023.
"Bitcoin weider, sou eppes iwwerrascht mech net ..."
According to Dave the Wave’s graph, BTC has the potential of hitting a loop high of $200,000 between May and June 2024, or 2 years thereafter.
Bitcoin is actively focusing on forming a rear end, according to a senior cryptocurrency researcher. Bitcoin’s latest market behavior is compared to that of 2018, while it collapsed out of a falling wedge formation prior to actually rebounding on its 200-week moving average.
As per research analysis, BTC could be along its way to hitting bottom and seeking assistance.
"Et hëlleft fir ewech vun der Grafik ze goen, a kuckt eppes wéi de Bitcoin wöchentlech.
De Verglach ass net alles, awer et ass och näischt. Et ass eppes fir ze goën ... "
Here on the monthly graph, Dave, the Wave is also watching the moving average convergence divergence (MACD). The MACD, which is utilized to predict trend rollbacks, might reach a resistance region before the month’s end, claimed analyst.
Furthermore, BTC is close to the crucial Fibonacci level of 0.382, when Bitcoin dropped out throughout the 2014 and 2018 bearish cycles.
"*Op Basis vun dëser Metrik*, déi logarithmesch Versioun vum monatlecht MACD, deen ech zënter bal ëmmer mat guddem Effekt benotzt hunn, gesäit de Bitcoin Low zimlech aus."
Around the time of this post, Bitcoin was trading at $30,262, basically unchanged during the past seven days.
War dëst Schreiwen hëllefräich?
Source: https://coinpedia.org/bitcoin/bitcoin-holders-this-is-when-btc-price-will-hit-new-ath-heres-the-timeline/