Logarithmic growth curve showing that Bitcoin (BTC) will surge by approximately 20 times over the current price in the next 4 years.
DaveTheWave is a Bitcoin investor & he is popular on Twitter with more than 1 lakh followers. Once he predicted the 2021 Bitcoin crash and it also happened because of the China crypto ban but later after recovery plunged to around $40k by the end of 2021.
At the time of writing this article, the price of Bitcoin (BTC) is $19,964 and this price is 2.37% higher over the last 7 days of trade.
On 3 December, DaveTheWave shared an algorithm-based prediction on BTC price and noted that it may hit $350,000 by 1 December 2027.
Indeed DaveTheWave quoted a tweet of a report in which Mike Novogratz said that Bitcoin to $500k in the next 5 years is no longer possible.
The shared logarithmic-based prediction is trying to confirm that Bitcoin will hit atleast $100k in the next 4 years easily, Which was also a normal prediction by many crypto trader & experts of this innovative sector.
Panic among crypto investors
This year, the crypto sector is going through multiple stresses because of bad business model-based projects. Initially, the downfall of the crypto market started with Terra (Lunc) crypto project and later many crypto lending projects downfall because of their exposure to the Terra ecosystem.
So far to this date, collapsed crypto companies are Celsius, Voyager Digital, Three Arrow Capital, BlockFi, FTX exchange & all of its affiliated companies like Alameda Research & FTXUS exchange etc, and Genesis Global Trading.