Is Bitcoin heading for $160,000? Analyst who predicted the 2021 crypto market collapse cites these reasons

Having finally exceeded the highly anticipated $100,000 mark on May 8, according to experts, Bitcoin seemed to be in line for a rapid rally to fresh all-time highs, as per a report. Market sentiment was mostly bullish, particularly with trade tensions between the United States and China slowly easing, according to The with the initial euphoria subsiding, Bitcoin has since constricted into a narrow trading range of $102,000 to $105,000, as per the report. Traders are closely monitoring to check when Bitcoin will break out, as per the Analyst's New PredictionAccording to The Street report, pseudonymous crypto analyst Dave the Wave, who had correctly predicted the 2021 crypto market crash, has now analyzed the price chart and forecasted an unexpected course for the cryptocurrency. On May 18, he posted a new price prediction on social platform X (previously Twitter) and pointed out that the journey to the $160,000 mark can take more time than most anticipate, as per the report. Dave the Wave wrote that, We all want #btc price higher here and now, adding, But if I were a betting man, I'd say the orange not the yellow, as per the X post.