Crypto Strategist Pinpoints Moment Bitcoin Could Begin Breakout to $100,000 – Here’s How Long Traders May Have to Wait

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The pseudonymous crypto strategist who accurately forecasted Bitcoin’s collapse from $11,600 to $6,400 in 2019 is marking the moment when he believes BTC will break out and begin its ascent to $100,000.

Trader Dave the Wave tells his 37,000 Twitter followers that Bitcoin is slowly grinding up in an effort to take out its all-time high around $20,000.

“And the standard use of a technical pattern, known as the breakout of an ascending triangle, gives a target of 100K.”

Source: Dave the Wave/Twitter

Based on Dave’s chart, crypto enthusiasts would have to wait until the end of 2021 before Bitcoin catches fire and erupts. The trader predicts that Bitcoin will skyrocket to $100,000 before 2023 comes to a close. The crypto analyst also highlights that the slow climb will set the stage for a massive BTC explosion.

However, Dave acknowledges that just like any other prediction, his analysis can be wrong and BTC can surge to $100,000 ahead of 2023. The trader shares a conversation that he had with PlanB, the first analyst to apply the controversial stock-to-flow model to Bitcoin. In the thread, PlanB asked whether Dave’s model would be proven incorrect should Bitcoin climb above $100,000 before December 2021.

Says Dave,

“It would certainly be in extremis. The log growth curve could accommodate a brief spike to that price but price carrying on higher would invalidate/falsify the curve.”

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