There are all kinds of optimistic crypto predicitons floating around Bitcoin these days despite the corrections that the kind coin and the whole crypto markets are seeing.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $41,293.
It’s been reported that the analyst who called the May 2021 crypto market collapse explained that there’s now a case to be made for Bitcoin (BTC) to rally its way to the $135,000 level.
Bitcoin to see $135k
The popular analyst known as Dave the Wave said that based on one theory, BTC could top out roughly 229% above current price levels about a year from now.
Dave the Wave identifies each cycle’s bottom, top, and bear market bottom.
“One for the bulls. The ‘BBT’s project a 135K target mid next year~”
It’s also important to note the fact that for those long-term bullish on Bitcoin, the analyst explained that a downward capitulation might be ideal in order to reset important indicators such as the moving average convergence divergence (MACD).
Based on the trader’s analysis, the MACD, which identifies trends and momentum, is still signaling more short-term downside in the near term on all three major time frames.
“Monthly MACD – correction in macro bull
Weekly MACD – below the zero-line and rolling over
Daily MACD – also below the zero line
Even if there were an eventual washout may well be the best thing for the macro bull moving forward…”
Huge crypto investments ahead
Despite the crypto market corrections, there are all kinds of optimistic predictions ahead.
The head of an essential American hedge fund believes that the crashes and pumps of Bitcoin that we have been seeing lately will get less and less volatile in the future.
It’s been just reported that the Pantera Capital CEO Dan Morehead says more institutional ownership of BTC and a higher Bitcoin market value will moderate the top crypto asset’s price swings.