Cryptocurrency trader and analyst Tone Vays says the chances of Bitcoin (BTC) rising above 75% from today to the end of the year are slim. we too Cryptocoin. com, we have compiled the analyst’s posts for our readers.
Bitcoin (BTC) more likely to follow the downward spiral path, according to the analyst
Tone Vays shares to his 116,000 YouTube subscribers that Bitcoin (BTC) is unlikely to exceed $100,000 in 2021, but the target will be reached in the first three months of 2022:
And I still want Bitcoin to break the $100,000 area by the end of the year. However, this seems unlikely at the moment. But Q1 2022 is perfectly reasonable for this $100,000 breakout.
The veteran crypto analyst states that if Bitcoin manages to break above the 50-day moving average, the leading cryptocurrency could rally upwards:
I predict this Bitcoin price will have a rejection just below the 50-day moving average. It’s already acting like a refusal. But if we get back to this (50-day) moving average on a daily scale and shortly (within a few weeks), I expect it to break to the upside.
Tone Vays, on the other hand, says the “more likely path” for Bitcoin to follow is a downward spiral:
But for now, we’ll stay conservative and assume it’s a refusal to push prices to a new low. As unfortunate as it may sound, although my thumbnail and background are bullish, at the moment this path seems more likely.
