Should We Expect a Strong Bitcoin (BTC) Performance in Q4?

A seasoned trader known for accurately forecasting the May 2021 crypto downturn believes Bitcoin (BTC) is poised for a strong finish to the year.

The trader, who goes by Dave the Wave, has shared an analysis, indicating that Bitcoin is currently trading between $54,000 and $74,000.

#btc setting up for 4th quarter fireworks…😎 pic.twitter.com/DyRZf3bpwg

— dave the wave🌊🌓 (@davthewave) August 2, 2024

His chart suggests that by year-end, Bitcoin could test a long-term diagonal support line, potentially setting the stage for significant upward movement into 2025.

Dave the Wave remarked that Bitcoin’s price has been moving within a relatively stable range for several months, and while it may seem like a familiar level, it’s still quite high compared to historical norms.

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This stability has prevented extreme volatility, with the market balancing buying and selling pressures without major spikes or crashes.

He noted that Bitcoin’s recent dip into the $50,000 range might actually be advantageous. According to his forecast, this correction could position Bitcoin for a substantial increase, potentially reaching $220,000 by the end of 2025.

In summary, Dave the Wave sees the current market correction as a temporary setback with the potential for long-term gains, suggesting that short-term struggles could lead to significant future gains.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.