Famous crypto analyst PlanB thinks that Bitcoin has not yet reached the peak in the current cycle, looking at its historical data.
The analyst told his 1.6 million followers on Twitter that the $69,000 level is not a peak for this cycle.
I don't think $69k is the highest for this cycle
The popular analyst says that if $69,000 was the peak, we could see different results.
“If the top was $69k, a typical bear market would drop the asset's value by as much as $14k, below the last 200-week moving average ($18,000)”
Looking at Bitcoin's 200-week moving average (WMA) and current value, PlanB does not anticipate that Bitcoin will drop that much.
“No that never happened and never will”