Cryptocurrency analyst Joao Wedson has published a remarkable report on Bitcoin (BTC).
Pointing to the Max Intersect SMA Model, which has claimed to have accurately predicted the peak of every cycle in the past, Wedson said that the current cycle has not yet reached its peak.
According to Wedson, the model’s data currently stands at $58,170. A move to $69,000 would be a strong signal for the current cycle’s peak. The analyst argued that this level is only likely to be reached “within weeks,” and that volatility could increase significantly, especially starting in September.
“When the model signals this cycle’s ATH (all-time high), I’ll be selling everything I have. Many people have price targets for Bitcoin, but few know the day,” Wedson said.
At the time of writing, BTC is trading at $115,489. The world’s largest cryptocurrency has gained 3.83% in the past week.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/has-bitcoin-reached-its-peak-analyst-responds-tells-what-hell-do/
