Analyst Dave the Wave, who has made successful predictions in Bitcoin (BTC), states that we may see a second collapse in the world’s largest crypto money. In addition, the analyst draws the anatomy of this collapse.
Dave the Wave: Bitcoin may experience another collapse! Buy from the bottom…
The analyst known as “Dave the Wave” tells his 67,500 followers that Bitcoin is lacking in strength as it trades between $30,000 and $40,000. According to the crypto expert, a downside break of the range may be on the horizon. Dave the Wave adds the following to his comments on the subject:
Price continues to look weak in this trading range. It wouldn’t be surprising to see it drop to another level in the not-too-distant future… Buy from the bottom.
Dave the Wave: Bitcoin will crash in the third quarter of this year to reach $20,000
According to his chart, Dave the Wave’s buy zone appears to be around $20,000, which is a 41% drop from Bitcoin’s current price. The analyst also says that he predicts that Bitcoin will be stuck in a wide range in the near future before finally crashing and reaching the $20,000 level in the third quarter of this year. Dave the Wave adds the following to his comments on the subject:
A trading range as long as at the top, price will be seen in this range until August…
Dave the Wave: Buy the buy zone…
The crypto analyst builds his analysis based in part on the concept of diminishing returns, or the idea that each bull cycle becomes less volatile than the previous one and therefore peaks at lower levels. Based on this concept and logarithmic growth curve, Dave the Wave says that the peak of the bull run is $64,804 and BTC bulls will have to wait longer than expected before hitting all-time highs. Dave the Wave adds the following to his comments on the subject:
Decreasing macro volatility + Decreasing cycles + Decreasing returns = Price discovery. Buy the buy zone.
Here are master analyst Dave the Wave’s successful predictions
As we previously reported , veteran trader Dave the Wave is a cryptocurrency analyst who correctly predicted that Bitcoin will drop to $6,400 in mid-2019. In the past years, the analyst said and knew that BTC would rise to around $11,000 before returning to $8,000. When the cryptocurrency market started to rally in the past years, the analyst stated that he expects BTC to rise above $11,000 by February, and this prediction came true.
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