Analyst Predicts Bitcoin Could Hit $150K by April Amid Altcoin Optimism

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Cryptodnes2024/12/12 04:11

By:Cryptodnes

A seasoned crypto analyst, recognized for accurately predicting the May 2021 market crash, has speculated that Bitcoin (BTC) could surge to $150,000 in the coming months.

Dave the Wave stated that such a move, representing a 55% jump, would align with historical patterns.

The chart accompanying his analysis highlights Bitcoin’s movement within a broad ascending wedge, suggesting the possibility of BTC reaching $150,000 by April if it touches the wedge’s upper boundary. Dave the Wave noted, “A BTC move to $150,000 this southern summer would not be extraordinary.”

A #btc move to 150K this southern summer would not be extraordinary…😎 pic.twitter.com/KivaXZQgRS

— dave the wave🌊🌓 (@davthewave) December 8, 2024

Focusing on the short term, he pointed out that Bitcoin is holding its position within a smaller ascending channel, currently trading near the lower support level. At the time of analysis, Bitcoin’s price was $96,477.

Here is Why China Is Likely to Adopt Bitcoin by 2025

The trader also expressed optimism for altcoins, highlighting a potential decline in Bitcoin dominance (BTC.D). His chart indicated that BTC.D might be breaking down from a bearish ascending wedge and facing diagonal resistance at the 57% mark, signaling an opportunity for altcoins to rally.

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.

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