Nov 26, 2018 09:30 UTC
Nov 26, 2018 at 10:50 UTC
Bitcoin Might Not Bounce Back Until Q4 of 2019, An Influencer Argues
Tone Vays, a Bitcoin trader and influencer, has raised his voice over the recent interview which the current brutal bear market could extend until later next year. Also, he predicted that the price of the most popular cryptocurrency might fall below $1500 before the sun is out.
This all came out in content with CNBC, where Tone Vays alleges that he had predicted the value of Bitcoin which would bottom below the $5,000 range in mid-January.
He says, “I’m actually not that happy, and this is one of those instances where I wish I were wrong because I remain a holder of Bitcoin and I’m holding on to my Bitcoin through the bear market, but I still think there’s going to be a little more pain before it’s all over.”
Vays revealed that Bitcoin, which is hitting below $4,000 mark, is broadly probable and referred this as his higher low while predicting the lower low of $1300. Though, he further added his views that BTC could rally from $4,200 to $6,000. Also, he gave three price targets for Bitcoin in a while inside the time frame of late October to the end of summer next year.
He argued, “I can certainly see the price bouncing from this $4,200 area all the way up to $6,000, the area of the breakdown, but I still think we will see prices in the low $3,000s before the bear market fully ends sometime next year.”
“The bear market would have ended right now if the price would have fallen all the way to 1500 but the price is holding up fairly. Now, I’m expecting the bear market to last until through the winter and into the spring. I think the best-case scenario at this point is a bottom around $3,000 in the spring and if that doesn’t work out, then the bear market could last all the way into late summer”.