Trader Dave the Wave, in his tweet on Twitter; It marks a level of resistance that has kept the Bitcoin market in the bear market for more than two years. The analyst sees a strong liquidation that could reduce the cryptocurrency to $ 6,400 if BTC continues its long-term resistance.
— dave the wave (@davthewave) May 15, 2020 Although it is thought that Bitcoin will have difficulties in the coming weeks, the technical analyst says that short-term price estimates are generally not as reliable as long-term price estimates. The cryptocurrency analyst predicts an impending downfall and the opportunity to buy from the bottom if Bitcoin follows this scenario. The analyst put up a price of $ 6,400 to $ 11,000 as the buying area in the next bull rally. Based on Bitcoin’s historical cycles and declining supply, Dave predicts that by 2023 the asset will rise to $ 100,000. In June 2019, when Bitcoin rose from $ 7,986 to $ 13,000, Dave made an extremely accurate estimate, saying that Bitcoin would drop to about $ 6,000 before the end of 2019. Bitcoin closed the year at a low cost of $ 6,425 in December.
