In a recent report, analyst Joao Wedson presented his forecasts regarding Bitcoin based on the Max Intersect SMA Model.
Analyst's Predictions on Bitcoin
Joao Wedson highlights the Max Intersect SMA Model, which he believes has accurately predicted the peaks of past cycles. He asserts that the current cycle has not yet reached its maximum.
Current Data and Potential Movements
According to the model, Bitcoin's current level stands at $58,170. A move to $69,000 would be a strong signal for the current cycle's peak. Wedson anticipates this level could be reached 'within weeks,' and expects significant volatility, especially starting in September.
Conclusion and Future Expectations
Reflecting on Bitcoin's future achievements, Wedson remarked, 'When the model signals this cycle’s ATH, I’ll be selling everything I have.' He emphasizes that while many investors have price targets for Bitcoin, few know the specific day.
Thus, Joao Wedson's forecasts underline expectations for potential price increases in Bitcoin, though the cryptocurrency market remains unpredictable.
