After Bitcoin’s Correction, Expert Forecasts Surge to $160,000
A well-regarded crypto strategist, known for accurately predicting the peak of Bitcoin's 2021 bull run, believes the worst of the current market downturn may be behind us.
Dave the Wave shares his optimism about Bitcoin’s potential for recovery, suggesting that the bottom of this correction is nearly in sight.
The analyst points to several key technical indicators that suggest Bitcoin’s decline from its peak is reaching its end. He highlights long-term support levels, as well as Fibonacci retracement patterns, which are commonly used to predict price reversal points.
According to his analysis, Bitcoin may find strong support at around $74,000, where multiple factors, including a major trendline and moving averages, are likely to converge.
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At the time of writing, Bitcoin is trading around $79,361, and while some experts argue that the bullish momentum is over, Dave the Wave sees the potential for a dramatic turnaround.
He predicts that after this correction, Bitcoin could soar past its previous highs, reaching a new all-time peak of $160,000 by the year’s end. His outlook suggests that the darkest days are behind, and a significant rally could be on the horizon.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
