A trader known for several accurate crypto market calls says that Bitcoin (btc) remains in an upward market trend.
Pseudonymous analyst Dave the Wave says his 146,500 followers on social media platform
"BTC is still on its way."
the analyst says that Bitcoin could still fall below its current value and remain in an uptrend as long as it stays above a diagonal support that has kept BTC bullish since October 2023.
“There is still a lot of room for maneuver for the price of BTC. The dashed diagonal line is the one that has the most weight here.”
The analyst also predict a market high for Bitcoin in December 2025 by using their version of the log growth channel (LGC) curve, which aims to predict the lows and highs of Bitcoin's long-term cycle while filtering out short-term volatility term.
“If you subscribe to the BTC four-year cycle theory, it may not help you much with the top (again). However, if you subscribe to the LGC theory, it may become useful again.”
Looking at his chart, the analyst suggests that Bitcoin could reach the top of the LGC model and rise above $300,000 by the end of 2025.
Bitcoin is trading at $68,654 at the time of writing, a slight drop in the last 24 hours.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and trading are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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