This Analyst Predicts Bitcoin Price Will Easily Touch $160,000

Cryptocurrency analyst Dave the Wave previously succeeded in predicting a collapse in the Bitcoin (BTC) price, which would occur throughout 2022. This time, Dave returned to provide Bitcoin with his analysis for the next few years.

He explained that there will be a big spike for Bitcoin in 2025. Based on a technical analysis of its logarithmic growth curve (LGC), Dave predicts Bitcoin could rise to $160,000 in January 2025.

He shared his thoughts on Bitcoin on Twitter and said $160k could easily reach Bitcoin over the next few years. Its LGC model continues to track Bitcoin price bullish signals despite the gloom and disaster surrounding the crypto industry.

He added that the baseline model in LGC will continue to act as support, just like the top of the LGC will function as resistance. This is the same as what happened during the last bull market.

“The previous bubble effectively popped. However, it was something else in the aggregate. Where speculative excesses culminate in a series of corrections provides a kind of baseline, with this baseline representing a logarithmic growth curve,” Dave said on Twitter, quoted from Yahoo Finance, Monday , January 2, 2023.

At the time of writing, Bitcoin is still trading around the $16,613 level. Bitcoin hasn’t gotten out of the $16,000 range in recent weeks and continues to trade flat.