Bitcoin has been seeing multiple corrections lately and some of the latest predicitons are saying that we can expect some more.
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $46,760.
New BTC correction prediction is out
A popular crypto analyst known for calling Bitcoin’s big correction in May of 2021 says there could be another massive correction.
The analyst is known as Dave the Wave and he said that there are a bunch of warning signs that Bitcoin may be en route to a drop as far as $25,000.
According to Dave the Wave, a drop down to $25,000 would match up with five different technical metrics as the online publication the Daily Hodl notes.
“The arguments for 25K:
– Meeting the Gaussian Channel
– Meeting the 4 year MA (moving average)
– Meeting the lower channel of the LGC (logarithmic growth curves)
– Measured target for a head and shoulders [on shorter-term charts]
– Measured 50% real retracement of the recent parabolic spike.”
The analyst also looked at the various times that Bitcoin was at the very bottom of the logarithmic growth curves (LGC).
He said that if BTC were to enter a long bear market, it may not find a bottom until 2023 at the price of $28,000.
“Value at the *base* of the LGC over the last 6 years or so:
2016 – 0.4K
2019 – 4K
2022 – 21K
2023 – 28K.”
While some investors are freaking out at the thought of new price corrections, others know that these are the best chances to accumulate the king coin.
Huge 2022 BTC prediction
There are also other kinds of BTC predicitons that have been recently made.
The latest one comes from investment veteran Tom Lee. Check it out below.
As the online publication the Daily Hodl notes, the Fundstrat Global Advisors’ managing partner Tom Lee is disappointed with the end-year performance of Bitcoin (BTC) in 2021.
This does not mean that he doesn’t believe that BTC could soar to new heights in 2022. Check out our previous article in order to learn more details.