Crypto analyst Dave the Wave has predicted BTC price to hit $400k. This is amidst the ongoing coronavirus pandemic, which has seen the king of crypto, Bitcoin, alongside other crypto coins being hit adversely, and their prices plunge significantly.
However, Bitcoin’s price has been bullish of late, breaking through the $7,200 level. Analyst Dave the Wave, who predicts that BTC price to hit $400k is known in the industry for his apt predictions with an impressive track record.
BTC price to hit $400k over time predicts Dave
In the crypto world, Dave the Wave’s predictions always carry significant weight. This is after he predicted in July last year that BTC would enter a parabolic downtrend, and Bitcoin price fell from $11,600 to $6,425 as he predicted.
However, now Dave believes that the crypto is ready for a “boom and bust cycle” that could bring the premier crypto to $400,000.
Reportedly, Dave is updating his long term BTC forecast and is dramatically increasing his price target. Dave currently has several reveals to make regarding Bitcoin price after plotting a curve with regards to past history.
Beyond Dave’s BTC price to hit $400k analysis, he predicts further that BTC volatility will keep decreasing in the coming decade as the crypto will embark on a dramatic boom and bust cycle. The boom and bust cycle he explains will bring BTC‘s price to $110,000 towards 2022 end. Afterward, Dave predicts that BTC will crash to as low as $30,000 in 2025.
Once the price is set at $30,000 by 2025, Dave says it will begin a long term recovery that will take it to staggering heights rallying to around $400,000 in 2029.
The $200 – $500K BTC trading landmark
In Dave’s Twitter post, the crypto could hike to around $500k and would trade between $200-500k range by the end of the decade.
Update – yuuuup…. pic.twitter.com/NswyTWzQSu
— dave the wave (@davthewave) April 15, 2020
As to how BTC would increase to these prices remains a mystery, especially for greenhorns in the industry. However, it is not the first time Bitcoin hikes by a seemingly unthinkable amount.
With Dave the Wave’s previous prediction coming true in the past, this lends credence to this forecast.