Renowned for his accurate predictions in the cryptocurrency market, a trader asserts that Bitcoin (BTC) is currently experiencing a bullish trend. Known as the pseudonymous analyst Dave the Wave, he shares with his 146,500 followers on the social media platform X that as long as Bitcoin remains above a particular ascending diagonal level, the leading cryptocurrency is poised to reach new all-time highs (ATHs).

According to Dave the Wave, Bitcoin could potentially experience a decline from its current value and still be considered in an upward trend, as long as it stays above a diagonal support level that has maintained BTC’s bullish momentum since October 2023. The analyst emphasizes the flexibility in Bitcoin’s price movement, stating that there is room for fluctuation while highlighting the significance of the dashed diagonal line.

Furthermore, Dave the Wave anticipates a peak in the market for Bitcoin in December 2025, utilizing his version of the logarithmic growth channel (LGC) curve to forecast the cryptocurrency’s long-term cycle highs and lows, filtering out short-term volatility. By analyzing his chart, the analyst suggests that Bitcoin could potentially reach over $300,000 by the end of 2025, surpassing the top of the LGC model.

At the time of writing, Bitcoin is trading at $68,654, experiencing a slight decrease in value over the last 24 hours. It is recommended to subscribe for email alerts to stay updated on price action and follow The Daily Hodl on various social media platforms.

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