Tony Weiss: $ 50k is a “smart” goal for bitcoin

Renowned trader Tone Vays is confident that bitcoin will remain above $ 10K until the end of 2020 and considers $ 50K a "reasonable" target for a bull rally.

Weiss stated that if Bitcoin exceeded inmedium term $ 20 thousand, then the price will double. From his point of view, historical price cycles show that the range from $ 45 thousand to $ 50 thousand can be considered a reasonable target for a bull rally.

During an interview with news and analysis website IGTV, Weiss said:

“Every time bitcoin breaks its previousan all-time high, especially when it takes years to break that all-time high, it tends to more than double. Therefore, I think that $ 45-50 thousand is a reasonable goal. "

Weiss compared Bitcoin to gold. He declared:

“We are now watching what is happening withgold. More recently, gold has finally surpassed its all-time high, which was reached ten years ago, and now it has already increased by another $ 100. Thus, it quickly grew by another 5%. We see gold soaring rapidly since the historic high break - bitcoin can do something similar. "

According to Weiss, he would be happy if Bitcoin's next peak was around $ 45,000. The trader explained:

“Do you really think that there will be an increase to $ 100 thousand? I would not make such a statement. Personally, I would be happy if the next peak was around $ 45,000, and that can happen quickly. "

At the end of June, Weiss announced that Bitcoin will not go beyond the $ 6-10 thousand range until 2021.

</p></p>