Cryptocurrency analysts said Bitcoin could easily rebound to $160000: this is when it might happen
Cryptocurrency analyst Dave the Wave predicts Bitcoin
Bitcoin/USD
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The price slump occurred in 2022.
Now, he expects the Apex cryptocurrency to rise sharply. According to his logarithmic growth curve (LGC), analysts predict that Bitcoin may rise to $160000 by January 2025.
He shared his views on Bitcoin on Twitter and said that Bitcoin could easily increase by 10 times in the next few years.
Dave the Wave said that despite the gloomy prospect of the encryption market, the LGC model continued to track the price trend of Bitcoin.
He added that the baseline of the model would continue to act as a support, just as the top of LGC acted as a resistance during the last bull market.
"The previous' foam 'has actually' burst '." However, on the whole, this is a completely different thing. "Speculative excesses culminated in a series of intermittent peaks, and the revisions provided various baselines, which represent the logarithmic growth curve," the analyst said on Twitter.
At the time of writing, the transaction price of Bitcoin was $16613, down about 1% in the past seven days.