Leading crypto Bitcoin (BTC) dropped more than 15% weekly, dropping below $33,000. As the crypto market follows the leading crypto, one analyst predicting the May 2021 crash of BTC is laying out possible scenarios for BTC, including a dramatic capitulation event.
“BTC could go to $25,000 if there is a similar move to the previous ones”
The pseudonymous analyst known as Dave the Wave tells his 98,000 Twitter followers that the leading crypto Bitcoin will likely fall below the $25,000 range. You can see the analyst’s critical predictions in this article of Kriptokoin.com.
For reference, the analyst uses the correction periods of May 2021 and November 2021 as examples of the next levels that BTC investors can see. In his Twitter post, Dave the Wave says:
If we get a similar Bitcoin price action as the previous two crashes, we’re looking at the $25,000 region.
Source: Dave the Wave / Twitter “The most likely scenario for bitcoin is an extended bear trend”
The analyst also noted that despite bearish price action in recent weeks, He points out that Bitcoin (BTC) still has a significant downside, as its 200-week moving average (MA) suggests.
Dave the Wave says that Bitcoin is still well above its 200-week moving average and its 20-week moving average has historically tended to revisit the 200-week MA before a bear market ends:
One for bull bears and bear bulls. Note that the 200-week MA (above the previous high) is quite high, while the 20-week MA is heading towards it!
Source: Dave the Wave / Twitter Although the analyst says the most likely scenario for the market-leading crypto is an extended bear trend, when zoomed out (from a broad perspective) BTC’s He states that the coin is still in a strong long-term bullish trend. Dave the Wave explains:
As the Bitcoin price continues to improve in the market, a few of the more optimistic theories may have slipped, but the macro bullish continues. Not to mention the logarithmic growth channel.
Source: Dave the Wave / Twitter 
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