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Top Trader Predicts Bitcoin Price Breakout in 2025

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Tue, 5/09/2023 - 5:31
Top Trader Predicts Bitcoin Price Breakout in 2025
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Noted cryptocurrency analyst Dave The Wave has taken to X (formerly Twitter) to forecast a potential Bitcoin price breakout in 2025. 

According to his analysis, Bitcoin’s halving events will likely become less relevant as the market matures, but they could still act as interim stimuli for price movement. 

Specifically, Dave The Wave points out that Bitcoin prices have historically surged when the monthly peak close intersects with the lower band of the logarithmic growth curve (LGC), a pattern suggesting a price climb to previous highs in 2024 followed by a breakout in 2025.

Related

The logarithmic growth curve (LGC) is a metric often used by traders to understand long-term price trends in assets that exhibit exponential growth, like Bitcoin. The LGC has been accurate in the past in predicting significant price events for Bitcoin, lending credibility to Dave The Wave’s latest forecast. 

ETF excitement fizzles

After an appeals court overturned the SEC’s decision to block Grayscale Investments’ Bitcoin ETF proposal, initial enthusiasm quickly waned, leading to a drop in Bitcoin’s price and in shares of Grayscale’s Bitcoin Trust. The long-anticipated Bitcoin ETF, once seen as a gateway for mainstream investors into crypto, has failed to sustain interest, particularly as open interest in Bitcoin perpetual swaps remains stagnant.

Bitcoin’s modest gains 

According to CoinGecko data, Bitcoin is currently trading at $25,709.49, showing a modest 1% increase. With a 24-hour trading volume of nearly $6 billion, the cryptocurrency maintains a market cap of over $500 billion.

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