According to trader Ton Weiss, at the moment the first cryptocurrency is in the stage of accumulation before rising in price to $ 100 thousand at the beginning of next year.
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Trader Ton Weiss is confident that bitcoin has already "bottomed out" and will return to growth in the near future. According to the analyst, in the next few weeks, the rate of the first cryptocurrency will set a new all-time high at levels above $ 70 thousand. At the moment, Bitcoin is in the accumulation stage before going to $ 100 thousand at the beginning of next year, Weiss claims.
“I am leaning towards the fact that the low has been reached and we are going to break through $ 70K within the next few weeks,” the trader predicted.
On November 17, the bitcoin price reached a three-week local low of $ 58.3 thousand. Cryptocurrency quotes have been declining since it first exceeded $ 69 thousand on November 10. At 15:30 Moscow time on November 18, Bitcoin is trading at $ 59.5 thousand, and its capitalization is $ 1.11 trillion.
One of the largest holders of bitcoin increased investments in cryptocurrency by $ 98 million after the price of the asset dropped below $ 60 thousand. The crypto investor bought 1.64 thousand BTC.