Crypto analyst: There is a probability of more than 50% for bitcoin to go up

The well-known cryptanalyst Ton Weiss is sure that the first cryptocurrency has begun to prepare for growth, since there can only be an upward exit from the existing horizontal corridor of the price of bitcoin. According to the expert, the cost of BTC rebounded from the “bottom” at around $15,700.

The cryptanalyst noticed that the cryptocurrency rate has been around $17,000 for a long time. That is why you should expect the price of bitcoin to rise.

“There is a probability of more than 50% for bitcoin to go up. We should expect growth of at least 10%. But when approaching the levels of the previous channel, which is about $20,000, sellers can increase the pressure,” Weiss said.

He also pointed out that BTC usually only bottoms for a few hours. And the price of the first crypto coin did drop to $15,700 only for a short period of time.

In the middle of last autumn, Weiss said that in 2023 the cost of bitcoin will reach a six-figure amount.

Meanwhile, US Senator Cynthia Lummis recently opined that the main cryptocurrency should be included in retirement plans. The politician said that the current crypto winter has not changed her opinion about BTC.

The senator explained that, unlike other crypto assets, the key advantage of bitcoin is the limited supply of 21 million coins. Lummis believes that this very moment will become a prerequisite for further growth in the price of the first crypto coin.

“I would like people to be able to use bitcoin and other cryptocurrencies of their choice, however, these crypto assets must comply with the Anti-Money Laundering Act and the Bank Secrecy Act. This is necessary to ensure the safety of users,” the senator concluded.

What do you think about it?