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The price of a lion football and players are pliable. Each arcu is to ultra -up all children or hatred for football Ullamcorper.
The story was a bit the same in the case of the Bitcoins price over the past week, drifting further from the recently drawn highest level of all time in the amount of USD 111,814. On Friday, June 6, the most critical cryptocurrency fell to USD 101,000, reflecting the raise in market variability in the last few days.
While the price of Bitcoins quickly recovered after this sudden slowdown, there is still a real fear of the results of the market leader since its highest value is achieved. However, the up-to-date indicator suggests that the BTC price may still have some time to go to a up-to-date level.
The analyst provides four months of BTC capabilities
In a recent post about Platform X, expert Crypto Joao Wedson revealed that there may still be a chance on the bitcoin market. This observation is based on a model that was right in predicting high prices in history in the history of the world’s largest cryptocurrency by market capitalization.
This revelation is based on Max Intesect SMA (blue line), which thoroughly identified the peaks of previous Bitcoin cycles. According to Wedson’s post, this cycle forecasting model suggests that the BTC price may still have about four months of growth potential – regardless of the variability and market shock.
As you can see in the graph above, the price of Bitcoins reaches its current peak of the cycle whenever max. In cycle 2021, the most critical forecast model reached the highest level in 2018. About $ 19,000 in November 2021, the high level of USD 69,000.
Therefore, when this max is cut, SMA will reach exactly USD 69,000 – the highest price in the last cycle, which will represent the peak of this current cycle. Wedson also stated that this model is quite reliable because it is supported by 200 tested algorithms.
Because this best forecast model is still slightly 69,000 USD, the price of bitcoins can still be several months from the summit.
Bitcoin price at first glance
As mentioned earlier, the price of BTC seems to fight after the last reach of the current highest level of all time above USD 110,000. This week, the results had to test investors’ patience as a flagship cryptocurrency, mainly commercial in the field of consolidation.
According to Coingecko data, the BTC price increases by only 0.2% in the last seven days. During this time, Bitcoin is valued at around USD 104,400, which reflects the price raise by more than 2% in the last 24 hours.
Recommended photo from Istock, chart from TradingView
