As the price of Bitcoin continues to swing dramatically, many investors are wondering when the digital asset will hit its lowest point. Some believe that the bottom has already been reached, while others anticipate more price drops. One analyst, known for accurately predicting the market top during the 2021 bull run, has made a bold prediction about Bitcoin’s bottom.
Crypto expert Dave the Wave gained recognition for his accurate Bitcoin top prediction in 2021. His recent analysis suggests that the Bitcoin bottom has already been reached. He points to indicators such as the MACD, which is still below levels seen in the last bull market. Dave also notes that the crypto market has matured, hinting at potential changes in market patterns over time.
According to Dave’s analysis, the Bitcoin low is likely in, with the price dipping to $57,000 a few weeks ago. If his prediction holds true, Bitcoin may not drop below $60,000 before resuming its upward trend. Despite the slow price movement, investors remain optimistic, as shown by the Bitcoin Fear & Greed Index staying in Greed territory.
Other crypto analysts, like Rekt Capital, expect further price increases, with predictions of Bitcoin surpassing $100,000 if it breaks and holds above $63,000. However, social media sentiment surrounding Bitcoin has turned bearish, with a 14% drop in social sentiment reported by Santiment.
Overall, the market outlook remains bullish, with some experts foreseeing continued price growth for Bitcoin. Time will tell if Dave the Wave’s prediction holds true and if Bitcoin can maintain its upward trajectory in the face of changing market sentiment.