Bitcoin rate will fall to $11 ths. New forecast from Ton Weiss
The famous trader told when the rate of the first cryptocurrency will reach the bottom, and what will happen to its price in the near future
The rate of bitcoin may fall to $11 thousand before it begins to rise again, said the famous trader Ton Weiss in a new review on his Youtube channel. According to him, bitcoin is ready to bottom any day now.
Trader Ton Weiss traded Wall Street for cryptocurrencies in 2013: he started a blog and a channel on YouTube. Weiss regularly speaks at blockchain conferences around the world and periodically makes predictions about cryptocurrency rates.
For example, in 2019 he said that bitcoin will rise to $50,000 by 2023, but not to $250,000 as other analysts have said. In the fall of the same year, he said there was no reason for the first cryptocurrency to grow significantly, and in December he predicted cryptozyma in early 2020 and bitcoin at $5k in its first months. The rise in bitcoin's price, according to Weiss at the time, was expected to come at the end of 2021. And so it did - bitcoin hit its high in November 2021.
According to Weiss, there are two possible developments in the near future. Either the price of the cryptocurrency will consolidate until the end of the year, that is, it will continue to trade in a narrow price range (sideways), or bitcoin will soon have another fall.
In his video, the trader clearly showed on the chart that bitcoin is forming a downward triangle, similar to the triangle of 2018, when the rate of the leading cryptocurrency almost halved (from $12,000 to $6,000).
The trader's calculation data showed that a 60% drop in the price is likely. In this case, the lower target will be at $7,000. However, Weiss believes that the decline in bitcoin prices to that level is unlikely. In his opinion, the realistic variant will be the decline of the first cryptocurrency price to the range of $11,000 - $12,000.