Crypto Analyst Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know

The price of Bitcoin has been drifting away from its all-time high of $111,814 over the past week. On Friday, June 6, the cryptocurrency fell towards the $101, reflecting increased market volatility. Despite a quick recovery, there are concerns about Bitcoin's performance since its record-high price. However, a new indicator suggests that Bitcoin might still have time to reach a new high. Crypto expert Joao Wedson, revealed that there might still be opportunity in the Bitcoin market based on a model that accurately identified past all-time high prices for Bitcoin. The Max Intersect SMA Model, which has been accurate in the past, indicates that Bitcoin could still have around four months of upward growth potential. The model suggests that the price of Bitcoin reaches its current cycle peak whenever the Max Intersect SMA hits the previous cycle top. According to Wedson, the top prediction model is reliable, backed by 200 tested algorithms. The Bitcoin price might still be some months away from its peak, as the top prediction model is still a bit off. As of now, the Bitcoin price is valued at around $104,400, reflecting an over 2% price increase in the past 24 hours.