The pseudonymous cryptocurrency trader predicted in the middle of 2019 that the cost of the property would retrace to the mid-$ 6,000 s to enter a “long-term purchasing zone” after the over-300%rally that brought BTC from $3,150 to $14,000 in a few months’ time.
Bitcoin did simply that, bottoming at $6,400 on December 18 th, briefly entering the buy zone Dave the Wave laid out, offering financiers with an uncommon opportunity to acquire the cryptocurrency at the peak of the feasible risk-return curve.
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Adding to his accolades, he confirmed he thought the low-$ 3,000 s were the point at which Bitcoin would find a macro bottom in late-December. And more just recently, he stated BTC would continue to rise higher towards $11,000, noting that the cryptocurrency had formed a parabola considering that the December 2019 bottom.
Eerie Accurate Expert Believes Bitcoin Will Struck $100,000
For the longest time, investors have been waiting for Bitcoin to strike $100,000— many think this is a price that will make the world, from Wall Street to Main Street, have real belief in BTC.
Right now, however, it seems totally impractical for BTC to hit $100,000 in the medium-term, for this rate point lies around 1,000%greater than the present market price of $10,000 flat.
For those getting stuck or puzzled on the much shorter term call, here’s my view moving forward. If you’re a holder/ financier, neglect the short-term calls and focus on the medium/ long term.
Main point being, a debt consolidation to the buy zone would set BTC up nicely for its run. pic.twitter.com/AC2gv5VrGI
— dave the wave (@davthewave) February 16, 2020
Dave backed this prediction by mentioning the cryptocurrency is on the brink of finishing a fractal correction and will break previous of a long-lasting coming down trendline, which marked the 2 swing tops over the previous 2 years.
A move past the trendline, which will soon line up with the long-term buying zone for Bitcoin, is likely to start a rally to $100,000, Dave suggested.
Associated Reading: Expert Who Called Bitcoin’s $6,400 Bottom: Rate Still on Bullish Trajectory
While this may sound crazy, the expert’s accolades make this projection that far more believable.
Not to point out, a strangely precise price design from PlanB, a pseudonymous quantitative expert working for a European organization, forecasts the “reasonable price” of Bitcoin will be somewhere in the series of $55,000 to $100,000 in the wake of May 2020’s block reward halving.
The model, which has actually been backtested to a 95%R squared (which suggests very precise), suggests the price of BTC is carefully correlated with how scarce it is to an exponential degree, indicating every decrease in the property’s inflation rate ought to have an exceptionally strong effect on pressing rates higher.
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