Experienced trader Tony Weiss predicted bitcoin’s growth by 450% next year

Cryptocurrency analyst and trader Tony Weiss shared an optimistic forecast of the future with his YouTube subscribers BTC $58,634.83 Bitcoin -2.51% Market capitalization $1.16 trillion VOL. 24 hours $2.96 billion . Weiss is convinced that even if the flagship cryptocurrency falls to $ 11,000, it will still be able to reach a new all-time high of $ 100,000 in 2023.

«Yes, the markets are heading to the bottom. Let’s remember when BitMEX’s funding level was so low. The last time was in May 2021. What happened in May 2021? We raised at least $ 30,000. Eventually, we reached a new all-time high of $ 69,000,» the trader explained.

Peter Schiff, a well-known bitcoin critic, would disagree with Weiss, who urged cryptocurrency holders to get rid of BTC. Schiff’s reasoning is based on the current state of the cryptocurrency industry, which is likely to experience further shocks. The expert believes that the digital asset market is currently too risky for investment, and the Fed’s maneuvers will not save it from a potential collapse.

Pessimistic sentiments about the bitcoin exchange rate have been observed throughout the week. Yesterday, cryptocurrency analysts at JPMorgan Investment Bank predicted that bitcoin would fall to record levels. «…Bitcoin is likely to reach the lowest levels of the summer period, when its rate dropped to $ 13,000,» the analysts said. Cryptocurrency expert Peter Brandt supported JPMorgan’s position.