Cryptocurrency analyst Dave the Wave, Bitcoin $99,040.9He stated that (BTC) may experience a significant price increase before Christmas. Addressing his 147,000 followers on the social media platform X, the analyst emphasized that Bitcoin is trading in a rising channel and technical indicators give positive signals.
Long-Term Goal: Could Approach $220,000 in 2025
According to Dave the Wave’s post, Bitcoin is moving within a long-term ascending channel on the weekly chart. This channel could move the leading cryptocurrency to the $180,000 to $220,000 range in the first half of 2025. The analyst pointed out Bitcoin’s four-year price cycles and stated that a parabolic rise was approaching.
“Bitcoin still hasn’t started a parabolic move. But the direction is upward,” he said. According to this prediction, even a possible correction in Bitcoin price does not jeopardize long-term goals.
Interest in Altcoins May Increase Again
A remarkable analysis was also made regarding Bitcoin’s market dominance rate (BTC.D). According to the analyst, BTC.D is currently about to break the resistance at 57% level. This may increase interest in the altcoin market. “Only a quarter of the movement in the BTC.D rate is complete,” said Dave the Wave, noting that altcoins could rise further in the near future.
Bitcoin price is currently trading at $100,102. Technical analysis points to key indicators supporting the leading cryptocurrency. Developments in the cryptocurrency market are followed closely. Experts recommend that investors should carefully monitor price movements.
This activity in the cryptocurrency market creates both opportunities and risks. Bitcoin’s potential price increase brings controversy. If long-term goals are realized, the leading cryptocurrency can make history again.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
