A well-known crypto strategist has raised eyebrows by suggesting that Bitcoin (BTC) may dip below the $90,000 mark before entering its anticipated final bull run. This forecast, shared with a substantial following on social media, comes as traders are closely observing market developments.
Is a Price Correction Imminent?
The analyst, who operates under the pseudonym Dave the Wave, has alerted his 147,700 followers about a potential pattern that Bitcoin could mimic from previous years. He warns that this might trigger a notable price correction.
What Level Could Bitcoin Reach?
Dave the Wave highlighted a chart that suggests Bitcoin could drop to around $82,000, hitting the 0.382 Fibonacci correction level before rallying again. He notes that while a temporary downturn is plausible, this price point could prepare Bitcoin for a remarkable 119% increase in value.
The analyst employs a unique model of logarithmic growth curves to accurately predict Bitcoin’s market cycles. He also anticipates that the peak for Bitcoin in the mid-year could occur when it aligns with a specific moving average.
- Predicted dip below $90,000 could set the stage for significant recovery.
- Potential correction to $82,000 may precede a 119% price surge.
- Mid-year peak expected at midpoint of moving average channel.
As of now, Bitcoin is valued at approximately $94,502. According to Dave the Wave, traders may need to prepare for volatility over the next seven months to strategically navigate the upcoming market patterns.
