Analyst who nailed 2021 market collapse has a surprising prediction

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Analyst who nailed 2021 market collapse has a surprising prediction

As

This is the hidden content, please

• Sign In
• or
• Sign Up

‘s price exceeded the $100,000 mark on May 8, the market observers expected it to quickly reach a new record high. It wasn’t an unwarranted expectation, given the fact that the U.S.-China tariff tensions were gradually easing.

However, Bitcoin has been hovering in the price range of $102,000-$105,000 for the past few days. Traders are still keeping a close watch to check when the king coin will break out.

Pseudonymous crypto analyst Dave the Wave, who nailed the 2021 crypto market collapse, recently analyzed the price chart and predicted an unexpected course for Bitcoin.

On May 17, Dave the Wave posted a price analysis

This is the hidden content, please

• Sign In
• or
• Sign Up

, “We all want BTC price higher here and now. But if I were a betting man, I’d say the orange not the yellow.”

As per the analysis, Bitcoin should witness a correction to $90,000 toward the beginning of June. It will again near the $105,000 level around the end of June before again dipping to the $100,000 level around the beginning of July, as per the analysis.

Post this correction, there is no looking back for Bitcoin, as it will keep rising and break out to $160,000 by the end of September, the analyst predicts.

As per

This is the hidden content, please

• Sign In
• or
• Sign Up

, Bitcoin was trading at $103,087 at press time.

Bitcoin needs to grow at a monthly compound annual growth rate (CAGR) of 9.22% to meet Dave the Wave’s target of $160,000 within 4.5 months.

However, there are multiple factors such as global trade tensions, geopolitical unrest, etc., that we should pay attention to analyze the price movement of the crypto market.

Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.

This is the hidden content, please

• Sign In
• or
• Sign Up

#Analyst #nailed #market #collapse #surprising #prediction

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up