Here’s a Possible Bitcoin Price Path to $200,000, According to Analyst Who Called 2021 Crypto Market Collapse

Renowned trader and analyst Dave the Wave, who accurately predicted the crypto market correction in May 2021, has now set his sights on Bitcoin (BTC) potentially reaching the $200,000 mark in the near future. Dave the Wave, with a following of 143,000 on the social media platform X, points to the moving average convergence divergence (MACD) indicator on the monthly chart, which is showing strong bullish momentum for BTC. The MACD is traditionally used to spot trend reversals and confirm trends.

The trader’s chart suggests that BTC could rally above $200,000 by December 2025. However, Dave the Wave notes that the consensus on BTC could be too high, potentially leading to the cryptocurrency hitting his upside target much sooner than anticipated.

Dave the Wave uses his own version of logarithmic growth channels (LGCs) to project the highs and lows of Bitcoin’s long-term market cycles while filtering out shorter-term volatility. According to the analyst, Bitcoin has been in the “buy zone” of the LGC for almost a year and a half but it looks close to breaking out.

At the time of writing, Bitcoin is trading at $38,784. Stay updated for further developments.