Analytic Dave the Wave confidently voices his opinion that Bitcoin might be entering a new bullish chapter. The evidence he offers is the moving average convergence divergence (MACD) on the weekly chart which is set to be a crucial indicator of Bitcoin's performance. Dave comparison of a longer-term picture indicates that Bitcoin might reach the market cap of Gold within the next 20 years pointing at a potential 22X level price increase. The current value of BTC is around $27,727 with only slight fluctuations over the last 7 days.

The MACD is used to identify the convergence or divergence of a given set of moving averages, and can serve as an alert for a potential trend reversal. According to Dave’s analysis, Bitcoin has shown five episodes in the past where the MACD flipped to bullish before significant multi-month or multi-year rallies, giving strong credentials to his prediction.

The ultimate goal for Bitcoin set by Dave is to reach an equivalent market cap to Gold's with an estimate of 12 trillion USD in 2023 and an estimation of 1 BTC equaling 400 ounces of gold. Although nothing is certain with the volatile cryptocurrency market, Dave the Wave is feeling confident about the future of Bitcoin.

Therefore, it would seem that we are about to enter a new phase in the life of Bitcoin and are all set to witness it take up and capture one of the most important and valuable commodities of this world - Gold.



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