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The story was somewhat the same last week for the Bitcoin prize, which drove further from the recently pronounced highest peak of $ 111,814. On Friday, June 6, the Prime Minister Cryptocurrency fell to the level of $ 101,000, which reflects an increase in market volatility in recent days.
Although the Bitcoin price has quickly recovered from this sudden decline, there is still real concern about the performance of the market leader since achieving the record-high value. However, a new indicator suggests that the price of BTC may still have some time to walk to a new high.
Analyst predicts four months of opportunities for BTC
In a recent message on the X platform, Crypto -Expert Joao Wedson unveiled That there is still a certain degree of opportunities in the Bitcoin market. This observation is based on a model that was accurate when predicting the high prices of all time for the largest cryptocurrency in the world through market capitalization.
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This revelation is based on the Max Intersect SMA model (the Blue Line), which has accurately identified the tops of previous Bitcoin Cycli. According to the WEDSON post, this cycle -top forecast model suggests that the price of BTC could still have about four months of upward growth potential – regardless of volatility and market shaking.
As can be seen in the graph above, the price of Bitcoin reaches its current Cycluspiek when the Max SMA (simply advancing average) hits the previous cyclustop. In the 2021 cycle, the Top Preference model reached the High 2018 of around $ 19,000 in November 2021, with a high of $ 69,000 at the time.
Therefore, when these maximum SMA cross exactly $ 69,000 – the price pin in the last cycle, the peak of this current cycle will represent. Wedson also claimed that this model is quite reliable, because it is supported by 200 tested algorithms.
With this top prediction model still a bit of $ 69,000, the Bitcoin price can still be a few months away from its peak.
Bitcoin -price at a glance
As mentioned earlier, the price of BTC seems to be struggling after he recently hit his current of all time high above $ 110,000. This week’s performance must have tested the patience of investors, because the flagship cryptocurrency is usually traded within a consolidation range.
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According to data from Coingecko, the BTC price has risen by only 0.2% in the last seven days. Bitcoin is currently appreciated at around $ 104,400, which reflects a price increase of more than 2% in the last 24 hours.
Featured image of Istock, graph of TradingView