Popular trader Tone Vays thinks that Bitcoin (BTC) has already reached its lowest level and is ready to rise towards higher prices.
The largest cryptocurrency by market cap traded at around $66,000 on Monday, but dropped below $59,000 at one point on Tuesday. BTC has since regained some of that ground. Despite the fall, Vays said he didn’t panic:
The analyst thinks that BTC is poised towards $100,000 in the first quarter of 2022.
However, Vays’ price predictions have fluctuated a bit in recent weeks. In September, he predicted that Bitcoin would reach $100,000 by the end of this year. While repeating that call earlier this month, he expected consolidation for BTC, potentially until Thanksgiving.
At the time of writing, Bitcoin is up 12% from its all-time high of $69,044.77 when it hit earlier this month. Dropped more than 5.