A crypto strategist who appropriately known as Bitcoin’s (BTC) collapse in Might 2021 is predicting a meteoric ascent for the crypto king within the coming years.
Pseudonymous analyst Dave the Wave tells his 130,200 Twitter followers that Bitcoin may ascend to $350,000 by December 2027 primarily based on his logarithmic development curve (LGC) mannequin.
“Although $350,000 may be…”
In response to Dave the Wave, the LGC mannequin is designed to comply with Bitcoin’s long-term uptrend amid altering macroeconomic forces.
The crypto strategist additionally notes that the LGC mannequin has held up to this point regardless of wild swings in investor sentiment.
The vary excessive of the mannequin has served as historic resistance since 2018. The chart additionally exhibits that the decrease boundary of the mannequin is presently appearing as help regardless of the acute bearish sentiment on BTC.
Dave the Wave says the LGC may maintain investor expectations extra aligned with the markets during times when BTC is buying and selling close to the highest or backside of the mannequin.
“It’s simple to say up up up on the prime, and down down down on the backside. Not really easy is to say down at or close to the highest, and up at or close to the underside. The LGC fixes this.”
At time of writing. Bitcoin is buying and selling at $17,071, hovering barely above the help stage of the LGC mannequin.
Do not Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox
Verify Worth Motion
Observe us on Twitter, Facebook and Telegram
Surf The Each day Hodl Combine
Featured Picture: Shutterstock/Natali artwork collections/PurpleRender