According to crypto analyst “Dave the Wave,” bitcoin’s price could reach $170,000 by the year 2028.
Dave the Wave: The Big Numbers Are Coming
At first glance, the news is a little disappointing. For one thing, many people – including venture capitalist Tim Draper – are predicting larger prices for bitcoin within shorter timeframes. In the past, Draper has gone so far as to say that BTC would reach $250,000 by the year 2022. This was later switched to the year 2023, but even still – that’s a considerably higher price that’s alleged to come at a much quicker pace.
An even bigger (and better sounding) prediction comes by way of software mogul John McAfee, who has repeatedly claimed that 2020 will be the year in which one unit of BTC reaches $1 million. What hodler wouldn’t want that?
At the same time, figures like Draper and McAfee do not always utilize technical knowledge in their predictions, and simply provide ideas based on their own unique thoughts, ideas or experiences. While this information can’t be discarded or dismissed outright, it would be a mistake to assume that they are inherently correct without chart data backing up what they say.
This time, however, things are a little different. Dave the Wave posted a chart on Twitter showing a logarithmic growth curve occurring over the next nine years. Dave explains that he’s been monitoring bitcoin’s behavior and history since it began and was able to arrive at his findings using the curve and ultimately plotting BTC’s price over the next decade.
Dave feels bitcoin will reach $70,000 by the time 2024 rolls around. His biggest prediction comes with the suggestion that BTC will add $100,000 to that price four years later, hitting a peak of roughly $170,000 by 2028.
He isn’t alone in is his findings. Dave the Wave is joined by bitcoin bull Peter Brandt, who also believes that bitcoin could reach the six-figure mark during its “next parabolic run.” He comments:
I believe in the long-term narrative of bitcoin and that bitcoin is indeed going to $100,000 if not substantially more.
Many Are Predicting the Six-Figure Range
Ethereum co-founder Charles Hoskinson is also joining the ranks of those who believe bitcoin could reach $100,000 sooner than we might anticipate. In a tweet last month, Hoskinson explained:
Bitcoin’s price is going down… Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that’s going to change the world. We will see 10K BTC again and welcome 100K. Crypto is unstoppable. Crypto is the future.
Several figures within the space have practically made careers out of predicting where bitcoin’s price will end up. Among them is Tom Lee of Fundstrat fame, who is now noted as being wrong most of the time when it comes to his mega end-of-year BTC predictions.