The Reds' 7-0 hammering of Crystal Palace ensured the champions would be top of the table at Christmas, which is often a clear indication of a team's title credentials.
However, it's been a miserable run of form for them ever since, with Liverpool failing to win any of their last five league matches.
The dismal run has seen them draw to West Brom and Newcastle as well as suffer a defeat to Burnley at Anfield - their first at home in almost four years.
This bad form, coupled with the good form of the likes of Manchester United, Manchester City and Leicester, has seen Liverpool slip down the table.
Doubts over whether Liverpool can retain the title are beginning to creep in ahead of their clash at Tottenham on Thursday, LIVE on talkSPORT.
But Crouch, who played for both sides, urged Liverpool fans not to panic just yet and is sticking to his original prediction at the start of the season that the Merseysiders would be victorious once again.
He told talkSPORT.com : "I don't think it's over.
"I think the Spurs game is a big game… I think every team is capable of going through a tough spell. United have had theirs, Chelsea are going through theirs, I think Spurs have gone through theirs. City as well, they look fantastic at the moment but they've had theirs.
"Liverpool were my favourites at the start for the start of the season but honestly, it changes every week… I don't think you can discount Leicester. I think they're amongst it, they've got a great squad as well.
"Who do I think will win it? I'll stick with Liverpool, I think City will be in there - I can't bring myself to say Man United!"
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Liverpool's Premier League title defence has really gone off the boil lately but Peter Crouch still has faith in Jurgen Klopp's men.