Crypto analyst Dave, who made the May 2021 bitcoin dip call, has made another prediction. In his call on Twitter, he advises investors that the right time to stack up BTC is now.
Regardless of the market, he was very bullish on Bitcoin this week and encouraged the stacking of BTC. Buying BTC now would generate huge profits when BTC breaks the resistance mark.
The Logarithmic Curve Model (LGC)
Dave informed his 125,100 Twitter followers of the Logarithmic Curve Model (LGC) that guided this call. This model predicted the May 2021 dip and now shows it’s a Bitcoin bullish season.
In a tweet, he said now is not the time to be emotional but to stack up Bitcoin. His LGC model that held up for four years predicted the last dip and signaled this.
This model predicted a narrow range of prices, and Bitcoin also had that same range. Bitcoin had observed the bottom and top of this range predicted by this model.
Reactions To The LGC Model’s Prediction
Comments implied, it is possible the bitcoin price maintained the range by chance and not the prediction. “Speaking from your tweet, you think this chance is very low”, they said.
Another disputed the predictions saying it wasn’t a wise call. They noted that the Bearish macro still in QT liquidity is less by 1.4 trillion. Unless inflation figures drop to at least 4.5%, all risk assets will be bearish.
They also pointed out that the Political issues with China & Russia are not helping. BTC will bleed out to the 8k to 12k range. BTC does not follow any model.
Bitcoin Market Trend
At the time of publication, Bitcoin’s price was $18,902. The #1 crypto asset by market cap has dipped 4.4% in 24 hours and 6.2% in the past seven days. It is down above 72% from its all-time of $69,000 in October 2021.
However, Dave predicts that a shorter term would cause a long jam to continue. He further notes that a move up would help confirm a bottom put in. Also, a move down will still be between the buy zones.
Many followers still doubted this call and called his calls a joke. Some countered Dave, saying that we were going lower and lower, and there was no point being bullish. “Bitcoin was going to keep dipping till the $12,000 mark”, they said.