Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Could Collapse Before Sparking 119% Rally, According to Analyst Who Called 2021 Market Meltdown

Bitcoin Could Collapse Before Sparking 119% Rally, According to Analyst Who Called 2021 Market Meltdown

Daily HodlDaily Hodl2025/01/13 16:00
By:by Henry Kanapi

A crypto strategist who nailed the digital asset crash in 2021 believes Bitcoin ( BTC ) could tumble below $90,000 before sparking the final leg of its bull market.

Pseudonymous analyst Dave the Wave tells his 147,700 followers on the social media platform X that Bitcoin may be repeating a pattern witnessed in 2023 and 2024.

The trader shares a chart suggesting that BTC may correct to around $82,000 and touch the 0.382 Fibonacci retracement level before coming back to life.

The Fibonacci retracement level is a tool used by traders to identify potential entry and exit points for an asset based on the Fibonacci sequence of numbers.

“Short-term BTC volatility IF the pattern were to repeat.”

Bitcoin Could Collapse Before Sparking 119% Rally, According to Analyst Who Called 2021 Market Meltdown image 0 Source: Dave the Wave/X

While Dave the Wave is short-term bearish on BTC, he highlights that a move to $82,000 may set up BTC for a 119% surge.

“Would BTC at $82,000 odd be so bad if it then enabled a move to $180,000…?”

Bitcoin Could Collapse Before Sparking 119% Rally, According to Analyst Who Called 2021 Market Meltdown image 1 Source: Dave the Wave/X

Zooming out, Dave the Wave believes that Bitcoin will print a bull market top in about seven months based on his logarithmic growth curve (LGC) channel.

The analyst uses his version of logarithmic growth curves (LGCs), which aim to forecast Bitcoin’s market cycle highs and lows while filtering out short-term volatility.

“The suggestion of a mid-year BTC peak here: the price has previously peaked when the one-year moving average hits the midway mark of the LGC channel.” 

Bitcoin Could Collapse Before Sparking 119% Rally, According to Analyst Who Called 2021 Market Meltdown image 2 Source: Dave the Wave/X

At time of writing, Bitcoin is trading for $94,502.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix


Generated Image: Midjourney

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!