Bitcoin will now surge to $200,000 in 2025 says pseudonymous analyst Dave the Wave, per his crypto market data.
“BTC just shy of $200,000 in 2025 based on this prediction,” he stated to his 144,400 followers on social media.
He bases the estimate on Bitcoin’s logarithmic monthly moving average convergence divergence (LMACD), a long-term momentum indicator, as well as Fibonacci extension levels, which keep track of potential areas of support and resistance, reports The Daily Hodl.
Looking at his chart, the trader suggests the LMACD indicator is showing BTC has reached a market bottom and is in an uptrend that will reach nearly $200,000 by October 2025.
The trader also uses his version of logarithmic growth curves (LGCs), which aim to forecast Bitcoin’s market cycle highs and lows while filtering out short-term volatility.
“BTC solid and sideward within the range so far.”
According to the trader’s chart, the LGC’s support levels could be tested at the longer-term end of the channel near $30,000 or potentially at $38,000 if its shorter ascending channel stays intact.
The trader believes that the logarithmic chart accurately provides a longer-term view of Bitcoin’s price action.
“It really is astounding the effect time has on our perceptions – just three years ago the current BTC price in the $40,000 range was blowing everyone’s mind, where today it is thought all a bit passé.
This has something I think to do with ‘time preference’, where those with a high-time preference are very much focused on the present (present-minded), while those with the low on the future (a more ‘elastic’ frame of mind).”
Bitcoin (BTC) is currently trading at $45,163 at the time of this publication.
For more daily crypto news and updates like this, opt-in for push notifications or join the popup newsletter.
Also Read: Crypto Investors Now See Bitcoin (BTC) Surging to Whopping $100K
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
