Bitcoin Set to Surge to $160,000 After Recent Market Correction

Dave the Wave, a respected crypto strategist known for accurately predicting Bitcoin’s 2021 bull run, is optimistic about the cryptocurrency’s future. He believes that the worst of the current market downturn is behind us, and a significant recovery is on the horizon.

Thinking we’ve seen the worst of this #btc multi-month correction:

1] Multi-year diagonal support coming through
2] 0.38 fib retracement repeat
3] 0.5 fib retracement and resistance come support
4] Time fib through to end of April
5] one year moving average coming through pic.twitter.com/85XcPoAczW

— dave the wave🌊🌓 (@davthewave) March 10, 2025

Key Technical Indicators Suggest a Recovery

The analyst points to key technical indicators, including long-term support levels and Fibonacci retracement patterns, as signs that Bitcoin’s decline from its peak may soon end. Dave the Wave highlights that Bitcoin could find strong support around $74,000, where several factors, such as a major trendline and moving averages, are expected to converge.

Bitcoin’s Potential to Reach $160,000 by Year-End

At the time of writing, Bitcoin is trading at approximately $79,361, and while some experts are questioning the continuation of bullish momentum, Dave the Wave sees a dramatic turnaround in Bitcoin’s future. He predicts that Bitcoin could surpass its previous all-time high and reach $160,000 by the end of the year. His analysis suggests that the darkest days of the current correction are behind, setting the stage for a potential rally.