The successful technical trader, who correctly predicted the decline of Bitcoin from $ 11,600 to $ 6,400 last year, said the rally that would take BTC to $ 100,000 is coming, but it could take much longer than some analysts expected.
Bitcoin (BTC) $ 100,000
The cryptocurrency analyst, named Dave the Wave, has released a new projection of where Bitcoin can go. The leading cryptocurrency could reach six digits in early 2023, according to the analyst.
What if? Some realism. pic.twitter.com/uCO2aRYivu
— dave the wave (@davthewave) August 19, 2020
Dave says the much-discussed Bitcoin stock-flow (S2F) price model, which predicts PlanB’s flagship cryptocurrency will reach $ 100,000 by 2021, will be obsolete, emphasizing that it is important for investors to remain realistic and skeptical.
According to PlanB’s latest S2F forecast, BTC could exceed $ 100,000 by August 2021. The analyst’s previous forecast models predicted that BTC would be $ 100,000 in December 2021.
The analyst says that so far Bitcoin has followed the stock flow pattern of price movements perfectly, and believes Bitcoin is currently preparing for another upward move.