Analyst Who Accurately Predicted Bitcoin Prices In 2021 Says $100K Is Coming This Year…But There's A Catch

A crypto analyst who anticipated the collapse of Bitcoin BTC/USD in May 2021, and then predicted that the apex crypto would not reach $100,000 by the end of 2021, now says BTC is setting up to break above its all-time high later this year.

What Happened: The analyst who goes by the pseudonym “Dave the Wave” told his over 94,000 Twitter followers that even as Bitcoin dips below $40,000, it remains on track to reach $100,000 this year.

He says that the path to reach the lofty price target won't be a smooth one, telling his followers they may need to withstand a drop to $25,000 before Bitcoin makes a run to six figures.

The Big Picture: The technical analyst also points out that even though Bitcoin has been taking a hit lately, in the larger picture it has remained within a wide trading range so far in 2022.

His message to his Twitter followers is to keep a level head during the market downturn, and reminds them that when it comes to their crypto holdings, "Indifference is a good place to be." 

As of Sunday morning, Bitcoin was trading at $38,821.10 down 0.83% in the previous 24 hours.

Also Read: If You Invested $100 In Bitcoin, Ethereum And Dogecoin At The Bottom Of US Markets In 2020, Here's How Much You'd Have Now