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- Dave the wave shared a Tweet on his logarithmic growth curve (LGC) model.
- In the Apple podcast, he also said that bitcoin is following his LGC model.
Dave the wave is a Pseudonymous investor and technical analyst. On September 7, 2022, he shared a Tweet that “It may not be emotional, but now is the time to buy [not sell] on the basis of this model that has held up well for 4 years.”
Bitcoin LGC Model of ‘Dave the Wave’
Dave the Wave explained in his LGC model of Bitcoin as “For a model, the LGC channel *has predicted* [beforehand] a relatively narrow macro range within which price has actually ranged. Price has observed both the bottom and the top of this range… and could have been potentially invalidated a number of times.”
Additionally, the technical analyst also forecasts the “log jam” for Bitcoin will continue over a short period. If the price goes up then there will be a market bottom.
In the Apple Podcast Dave said that “Bitcoin is a nascent currency in the process of capitalization. There are periods of volatility in both directions as new people add and subtract liquidity in adoption waves. Bitcoin is following the path of gold that was capitalized over hundreds if not thousands of years, Bitcoin has already reached a market cap of 1T in just 12 years.”
He also added that, “If Bitcoin follows the Logarithmic Growth Curve, Bitcoin will hit somewhere between $500k and $ 1 million in approx ten years’ time.”
At the time of writing, Bitcoin’s current trading price is at $20,992 USD with an increase of 8.65% in the recent 24 hours.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
