Source: Dave the Wave/TwitterĪt time of writing, Bitcoin is trading for $29,843. Bitcoin fell 7 Wednesday to 17,056, its lowest price since November 2020, following a 10 drop Tuesday after the largest crypto exchange Binance announced a nonbinding agreement to. The trader provided a chart predicting a $157,512 Bitcoin price by 2025. A proportionate response within the parameters of the LGC… performing since 2018.” The price of Bitcoin has plummeted below 30,000 as more than half a trillion dollars has been wiped off the cryptocurrency market in just a week. A value of 10,000 may still seem like a lot but Bitcoin was trading at 69,000 (£51,000) back in November. One finance expert thinks Bitcoins worth could tank as low 10,000 (£7,400) per coin. “With a consensus building that the BTC bottom is in, the question increasingly raised is what could the next top be. BITCOIN has been predicted to crash in 2022 and the value of the cryptocurrency fell dramatically earlier today. Looking at the trader’s chart, the LGC model appears to predict that Bitcoin could rally above the $200,000 level before 2026 expires.ĭave the Wave also says that while BTC is “relatively high” after its strong performance so far this year, the crypto king is still in the opportunity zone for long-term investors as it hovers around the $30,000 mark.īut BTC is still in the LGC buy zone for investors.” Source: Dave the Wave/Twitterĭave the Wave recently said that Bitcoin’s bottom is likely already in and the question now is just how high BTC can run. Crypto experts are shrugging off the bitcoin crash, here's why CNN Business Markets DOW 35,520.12 0.23 S&P 500 4,566.75 0.02 NASDAQ 14,127.28 0.12 Fear & Greed Index Latest Market News. Meanwhile, the price of ethereum, BNB, solana. “Beware the BTC charts with longer-term projected straight lines, channels and parallels that will proliferate for price targets in the next bull run.Įxactly what led most astray last time.” Source: Dave the Wave/Twitter The bitcoin price has crashed 10 over the last 24 hours, dropping under 40,000 to around 38,000, a level not seen since the summer of 2021. The LGC is designed to estimate Bitcoin’s long-term highs and lows throughout its lifetime while ignoring short-term volatility. Bitcoin ( BTC) experienced one of its most brutal crashes ever in 2022, with the BTC price plummeting below 20,000 in June after peaking at 68,000 in 2021. Liquidity has dried up due to central banks hiking. Dave the Wave instead uses logarithmic growth curves (LGCs) to map the potential trajectory of Bitcoin, depicting diminishing volatility and therefore smaller rallies and less dramatic corrections over time. Updated May 12, 2022, 5:31 PM IST Bitcoin is currently trading at 28,954, down from the highs of nearly 68,000.
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