Dave Wave: Bitcoin is expected to collapse in the coming weeks before rising to $ 260,000

Bitcoin may face its worst phase of consolidation in the coming weeks, according to an analyst with the pseudonym Dave the Wave. He has gained a reputation as an accurate forecaster after predicting the crypto market’s collapse in May 2021. According to his estimates, BTC could repeat last year’s pattern, when the price reached $ 74,000 and then fell below $ 50,000.

Based on the Fibonacci analysis, the analyst expects the bitcoin rate to correct to $ 81,000 before potentially recovering. He notes that investors' disappointment with the lack of rapid growth should not overshadow the overall technical picture: such consolidations are natural in long-term market cycles.

Despite the short-term risks, Dave the Wave remains optimistic about bitcoin’s long-term prospects. His Logarithmic Growth Curve (LGC) model indicates that BTC could potentially rise to $ 260,000 by the end of the year. An additional argument is the MACD indicator, which signals the possibility of a trend reversal and the resumption of the upward movement.

As a reminder, the cryptocurrency market suffered the largest liquidation in history after a sharp drop in prices on February 3, 2025. This happened against the backdrop of Donald Trump’s statements about the introduction of aggressive duties on imports from Canada, Mexico, and China.