Traders who predicted the May 2021 crash: "Bitcoin to explode in Q4"

Dave the Wave, a veteran trader who correctly predicted the cryptocurrency crash in May 2021, has argued that BTC will have a strong fireworks display in the fourth quarter of this year.

According to cryptocurrency publication The Daily Hoarder, an anonymous crypto analyst Dave the Wave told his 145,000 followers on the social media platform, "Bitcoin is trading in a range between $54,000 and $74,000. There is a possibility that this range will meet long-term diagonal support by the end of this year, which could be the starting point for a big move higher before 2025," he explained. He also said that Bitcoin has remained psychologically stable, trading in a consistent range for several months. He predicts that bitcoin's recent deep correction to the $50,000 level could lead to a 400% rise to his bull market price target of $220,000 by the end of 2025.

Bitcoin fell below $50,000 on Friday (local time) on fears of a U.S. recession, before rebounding significantly to trade around $54,000 on Saturday. However, it should be noted that he is a bitcoin enthusiast and bullish commentator who predicted that bitcoin would rise to 120K in September 2020.