Anonymous crypto analyst Dave the Wave, who has pointed to a 2021 cryptocurrency market crash, has a new Bitcoin (BTC) prediction, and all he can foresee is “the worst-case scenario.”
A series of factors triggered the 2021 cryptocurrency market collapse. China has cracked down on Bitcoin mining operations. Even other major countries such as the United States have fairly vague regulations on cryptocurrencies.
As Bitcoin fell from its all-time high of over $69,000 in November 2021 to $30,000 around mid-2022, several major crypto projects such as Terraform Labs’ UST and LUNA collapsed.
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Recently, Terraform Labs co-founder Do Kwon was sentenced to 15 years in prison for fraud.
Starting in October 2025, the cryptocurrency market is going through another volatile phase. Bitcoin set a new record high above $126,000 in early October but has struggled to break above the $95,000 mark for weeks.
Other popular cryptocurrencies also performed poorly on the charts.
Crypto analytics company DappRadar recently decided to shut down due to the “current environment.”
On December 8, Dave the Wave shared a Bitcoin price chart in which the cryptocurrency is moving within an ascending channel, indicating a bullish macro trend.
The blue horizontal line reflects key support levels, with analysts targeting the next support level at $70,000, which is already 20% down from current prices.
But the green area reflects areas of stress where the asset previously tended to pull back.
Dave the Wave said that while possible support lies at the $70,000 level, in a “worst case scenario,” Bitcoin could even fall in a pressure zone.
As of this writing, Bitcoin is trading at $90,464.18, down 12% in a month.
This article was originally published by TheStreet on December 12, 2025 and first appeared in the Markets section. Click here to add TheStreet as your preferred source.