Popularly known as “Dave the Wave” and regarded as the key strategist of the crypto industry, it had made a prediction way back in 2019 about the metamorphic downturn of the Bitcoin market. After his loudly pronounced prediction, bitcoin changed course towards the south and fell to $6425 from a high $11,600. The popular analyst has carved a name in the industry and with predictions made July last year, the weightage of the statements has increased manifold.
After the trend went down, he now predicts that Bitcoin’s hovering rates and the extremely volatile situation will decrease especially in the next ten years. He also has predicted that Bitcoin will experience extreme prosperity followed by a period of decline. According to his data-driven evaluation, the price of bitcoin can hit $110,000 by the end of 2022 after which it will crash massively to $30,000 by the end of 2025. But after the crash, a reversal in trends and a recovery is on the cards which will take Bitcoin to a new high. By 2029, ‘Dave the Wave’ bets on Bitcoin reaching $400,000 which will be huge.
In an official tweet, Dave the Wave had suggested that Bitcoin could travel up to $500,000 and by the end of the decade, it will trade between an interval ranging from $200,000 to $500,000. Bitcoin had experienced quite a few blowups owing to its volatility. Even in the pandemic situation, Bitcoin had indeed suffered a major downturn, but as per the predictions, things could be finally looking up.
Many people make predictions about bitcoin, but considering the past history that the wave has with predictions adds to his credentials. The Bitcoin market can be studied with much detail but it is also important to understand that one cannot predict it precisely. Predictions are not easy in such situations but Dave’s predictions have always been based on careful analysis and use of past data.
At present after its crash to the bottom after COVID-19 struck, things have already started to look up with Bitcoin is crossing the $7200 level. Dave the Wave suggests that if bitcoin has to reach a zenith, it has to undergo the boom and bust cycle. Only time can now establish the accuracy of the predictions.
Image Source – Bitcoin Exchange Guide