Famous Analyst Dave The Wave Says Bitcoin Still Has Room to Run, Sets $300,000 Target

Leading Crypto Analyst Dave the Wave provided a bullish narrative for Bitcoin despite the the recent setback of the flagship crypto. As part of his analysis, he suggested how high Bitcoin could rise in the short and long term.

Bitcoin to reach $300,000

Dave the Wave suggested in an X (formerly Twitter) job that Bitcoin could reach $300,000 based on its Logarithmic Growth Channel (LGC) indicator. Based on the chart he shared, BTC’s rally towards this all-time high price level is expected to occur sometime in 2025.

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Meanwhile, in the short term, Dave the Wave expects Bitcoin exceed $100,000 Later this year. It highlighted an ascending diagonal line, which Bitcoin continued to hold as support even after its launch. recent decline below $67,000. As such, the analyst believes that the flagship crypto will remain in a multi-month uptrend as long as it holds above the line.

Crypto Analyst Rekt Capital also suggested that there is no need to worry about Bitcoin being withdrawn, declaring that this current decline would not last forever. In fact, he REMARK that everything was going according to plan, as the withdrawal of Bitcoin was long expected based on “historical trends”.

The analyst expects Bitcoin to continue consolidating within this reaccumulation range for some time. Rekt Capital predicted that the breakthrough into the “parabolic uptrend” phase will likely occur in September this year if history repeats itself. This aligns with Dave the Wave’s prediction that Bitcoin will surpass $100,000 later this year.

Rekt Capital also warned Bitcoin investors from being undermined by their positions. He declared that Bitcoin will soon move into “increasingly scary territory” as its price drops to as low as $60,000. He added that this “fear tends to precede the point of maximum financial opportunity.” In other Messagehe noted that Bitcoin will retrace deep enough to convince anyone that the bull run is over, then the flagship crypto will resume its uptrend.

BTC still on track

Crypto Analyst Mikybull Crypto also shared a similar sentiment as Rekt Capital. He declared that BTC is still range-bound and advised investors not to get rattled. The analyst had previously called be patient while BTC consolidates within this range. He highlighted a gap that he believed would send the price of Bitcoin higher. initial goal of $85,000 when a breakout occurs.