Cryptocurrency analyst Joao Wedson has released a notable report on Bitcoin (BTC).
Wedson said the current cycle has not yet reached its peak, pointing to the MAX Intersect SMA model, which MAX claims to accurately predict the peaks of all past cycles.
According to Wedson, the model’s data is currently at $58,170. The move to $69,000 is a strong signal for the current peak of the cycle. Analysts argued that this level is likely to reach “within a few weeks,” and could see a significant increase in volatility, particularly from September.
“When the model signals this cycle of ATH (highest ever), I sell everything I have. Many have a Bitcoin price target, but few people know the day,” Wesson said.
At the time of writing, BTC is trading at $115,489. The world’s largest cryptocurrency has won 3.83% in the past week.
*This is not investment advice.