Well-known cryptocurrency analyst Dave The Wave predicted on X (formerly Twitter) that Bitcoin price could breakout in 2025.
According to his analysis, Bitcoin’s halving events may become less significant as the market matures, but they can still serve as a temporary stimulus for price movement.
Specifically, Dave The Wave noted that historically, Bitcoin prices have surged when the monthly peak close intersects the lower bound of the Logarithmic Growth Curve (LGC), a pattern that suggests prices will climb to prior highs in 2024 before breaking out in 2025.
The Logarithmic Growth Curve (LGC) is an indicator often used by traders to understand the long-term price trend of exponentially growing assets, such as Bitcoin. The LGC has been accurate in predicting major price events for Bitcoin in the past, lending credibility to Dave The Wave’s latest prediction.
ETF excitement fades
After an appeals court overturned the SEC’s decision to block Grayscale Investments’ bitcoin ETF proposal, initial enthusiasm quickly faded, sending bitcoin prices and shares of the Grayscale Bitcoin Trust down. The much-anticipated bitcoin ETF, once seen as a gateway for mainstream investors into cryptocurrencies, has failed to sustain interest, especially as open interest in bitcoin perpetual swaps remains stagnant.
Bitcoin rises slightly
According to CoinGecko data, Bitcoin is currently trading at $25,709.49, up slightly by 1%. The cryptocurrency's 24-hour trading volume is close to $6 billion, and its market capitalization remains above $500 billion. $BTC
