The analyst and experienced crypto trader said that Bitcoin will reach a six-figure price in 2023, even before the next reduction in miner rewards.
According to Tone Vays, the halving will be implemented earlier than investors expect: closer to March or April 2024. But the excitement of the upcoming event will appear much earlier:
“I expect that we will have a significant increase, which may end even before the halving, as the enthusiasm of investors is able to exhaust itself. I would be surprised if we didn’t get close to that $100,000 next year.”
According to Weiss, there is likely to be a reversal of the downtrend in the cryptocurrency market as sentiment is currently uneven:
“A lot of investors expect the crypto winter to continue. And whenever there are too many traders on one side of the market, the opposite happens. Right now I’m seeing a very pessimistic mood.”
The crypto trading veteran believes that digital assets could be the beneficiaries of the speculative money pouring into them – amid the potential for growth in traditional assets such as bonds and real estate:
“I think there will be a big crash in the bond market. Even a collapse in the real estate market is possible. But I think there will be a lot of speculative money coming into the stock and crypto markets.”
Analysts at Arcane Research warn that after a period of low volatility, the dynamics of the digital asset market will change dramatically. According to their forecast, the crypto market is expecting explosive volatility due to the huge leverage.
Source: Bits
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