{"id":356531,"date":"2022-11-08T09:35:19","date_gmt":"2022-11-08T14:35:19","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=356531"},"modified":"2022-11-08T09:35:19","modified_gmt":"2022-11-08T14:35:19","slug":"analyst-who-saw-2021-bitcoin-collapse-predicts-massive-rally-in-2023","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/analyst-who-saw-2021-bitcoin-collapse-predicts-massive-rally-in-2023","title":{"rendered":"Analyst Who Saw 2021 Bitcoin Collapse Predicts Massive Rally in 2023"},"content":{"rendered":"<p>One of the most popular analysts in the crypto space who predicted the collapse of Bitcoin in May last year has now predicted that Bitcoin is on the verge of a major breakout. According to the analyst, the current bear cycle could end, and Bitcoin could rally higher.<\/p>\n<h2>Crypto analyst predicts BTC rally in 2023<\/h2>\n<p>The trader in question, Dave the Wave, has informed his Twitter followers that the <a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/best-cryptocurrency-to-buy\">largest cryptocurrency<\/a> by market cap could be on the verge of a major trend reversal as the coin reaches maturation.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Naturally, we desire a narrative&#8230; but remember, increasing maturation of the <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a>  market may well make multi-year cycle theory redundant [whether 4 year or lengthening]. <\/p>\n<p>What if another mini parabolic breakout in an increasingly &#39;irregular&#39; market? <a href=\"https:\/\/t.co\/julMFOLkoR\">pic.twitter.com\/julMFOLkoR<\/a><\/p>\n<p>&mdash; dave the wave?? (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/1589331327916314624?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The crypto analyst has said that the tendency of Bitcoin to have an up and down four-year cycle could be coming to an end. According to Dave the Wave, Bitcoin\u2019s trend is changing, and it could be headed to a place where the coin witnesses small rallies, which is different from the past when its price made wild swings.<\/p>\n<p>\u201c\u2026 increasing maturation of the BTC market may well make multi-year cycle theory redundant,\u201d the analyst said, adding that the market could witness a mini breakout in the short term.<\/p>\n<p>The analyst has also said that the changing pattern in Bitcoin\u2019s price movement was caused by the willingness of the market to go long on Bitcoin. He has also added that speculative traders will refrain from making large BTC trades as the asset becomes more mature.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">which is also price stabilization, mass adoption, and a nascent currency full capitalized along the lines of Gold.&quot;<\/p>\n<p>&mdash; dave the wave?? (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/1589338869530791936?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The volatility of Bitcoin is also expected to reduce. The volatility of the coin has been notably low in the recent months. In contrast, the current cycle could also be seen as a transition that sees a rise in intra-volatility that transforms the market and defies the cycles that the crypto market has been making.<\/p>\n<p>As the volatility of Bitcoin drops, the asset will be on the path toward price discovery, and the price will also stabilize. This would result in increased mass adoption and result in the nascent currency being fully capitalized, like gold.<\/p>\n<p>The analyst has said that the first wave of Bitcoin\u2019s mini parabolic rally will start on December 12. The movement of Bitcoin on this date will be similar to what happened in 2019, as Bitcoin gained from $5K to $14K within two months.<\/p>\n<h2>Bitcoin\u2019s price performance<\/h2>\n<p>At the time of writing, BTC was trading at $19,723 after dropping by nearly 5% in 24 hours. The cryptocurrency market is bearish today, with most altcoins trading in the red zone. BTC is down 71% from its all-time high. The coin is currently reversing after a bull run that saw the token gaining to $21K.<\/p>\n<p>Bitcoin has been plunging this year amid the Federal Reserve\u2019s aggressive interest rate hikes. The largest crypto is currently correlated with the stock market amid increased investments into BTC by institutional investors. The next Fed meeting in December is expected to result in the institution easing the interest rate hikes, which could trigger a recovery in Bitcoin and the stock market.<\/p>\n<h3>Related<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\">How to Buy Bitcoin Online Safely in 2022<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-price\/bitcoin-price\">Bitcoin Price 2022 Guide<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-for-today-november-7-btc-usd-drops-below-20500-support\">Bitcoin Price Prediction for November 7: BTC\/USD Risks Fresh Drop Below $20,500 Support<\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">One of the most popular analysts in the crypto space who predicted the collapse of Bitcoin in May last year has now predicted that Bitcoin <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/analyst-who-saw-2021-bitcoin-collapse-predicts-massive-rally-in-2023\" title=\"Analyst Who Saw 2021 Bitcoin Collapse Predicts Massive Rally in 2023\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":356532,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.8 (Yoast SEO v21.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analyst Who Saw 2021 Bitcoin Collapse Predicts Massive Rally in 2023<\/title>\n<meta name=\"description\" content=\"A reputable crypto analyst has predicted BTC\u2019s gains in 2023. According to the analyst, BTC\u2019s volatility is fading, and the asset is becoming more mature.\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/356531\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst Who Saw 2021 Bitcoin Collapse Predicts Massive Rally in 2023\" \/>\n<meta property=\"og:description\" content=\"A reputable crypto analyst has predicted BTC\u2019s gains in 2023. 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