A crypto analyst who anticipated the collapse of Bitcoin (CRYPTO: BTC) in May 2021, and then predicted that the apex crypto would not reach $100,000 by the end of 2021, now says BTC is setting up to break above its all-time high later this year.
What Happened: The analyst who goes by the pseudonym “Dave the Wave” told his over 94,000 Twitter followers that even as Bitcoin dips below $40,000, it remains on track to reach $100,000 this year.
One for the bulls.
Aligning the micro with the macro. 100K within striking distance this year… pic.twitter.com/5gKHSeLd3v
— dave the wave(@davthewave) March 5, 2022
He says that the path to reach the lofty price target won’t be a smooth one, telling his followers they may need to withstand a drop to $25,000 before Bitcoin makes a run to six figures.
My macro target I’ve had for near a year now [25K] starting to become the norm on CT.
Prediction: if/ as price heads lower, so too will all the johnny-come-lately targets.
— dave the wave@davthewave) March 4, 2022
The Big Picture: The technical analyst also points out that even though Bitcoin has been taking a hit lately, in the larger picture it has remained within a wide trading range so far in 2022.
Huge volatility within this range. pic.twitter.com/Z7k8cgH9pl
— dave the wave (@davthewave) March 4, 2022
His message to his Twitter followers is to keep a level head during the market downturn, and reminds them that when it comes to their crypto holdings, “Indifference is a good place to be.”
As of Sunday morning, Bitcoin was trading at $38,821.10 down 0.83% in the previous 24 hours.
