Trader Ton Weiss explained that the asset will take longer to rise in price by more than 75%
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Trader Ton Weiss believes that the first cryptocurrency has little chance of reaching the $ 100,000 mark by the end of this year. The analyst explained that the growth cycle continues, but the asset will take longer to rise in price by more than 75%. According to Weiss, bitcoin will reach $ 100 thousand roughly in the first quarter of 2022.
Weiss does not exclude a negative scenario in which the price of bitcoin will continue to decline in the coming months. According to the trader, this can happen if the cryptocurrency rate breaks the 50-day moving average.
Last week, Weiss argued that Bitcoin has already “bottomed out” and may return to gains in the coming weeks. At the moment, the cryptocurrency is in the accumulation stage before going to $ 100 thousand early next year, the analyst predicted.