Tone Vays on bitcoin: "I’m obviously not expecting US$1,000"
A former Wall Street trader, Tone Vays, said that the price of the first cryptocurrency reached its lowest point - US$3800. An analyst of the Amsterdam Stock Exchange Michael van de Poppe believes that BTC will rise to US$150,000.
Bitcoin is unlikely to go down to US$2800 and or even less to US$1500 or US$1000, said Tone Vays, a Wall Street trader and former Wall Street analyst on his YouTube channel. In his opinion, the rate of the first cryptocurrency reached a minimum at US$3800 during the fall of March 13.
“While I thought that US$2,800 was possible coming off of June, I don’t think it’s likely anymore. Because I think this incident earlier this month was close enough to $2,800 that I’m no longer expecting US$2,800. So if I’m not expecting US$2,800, I’m obviously not expecting US$1,000 or US$1,300 or US$1,500," Vays said.
He added that on March 13, the cryptocurrency rate could have dropped to US$2800 or even lower. But that didn't happen because BitMEX had a malfunction that interrupted trading. Vays is sure that this protected traders from selling their coins at a low rate.
The analyst stressed that the price of Bitcoin depends on how the stock market behaves. If world stock indices fall by 30%, then it is likely that the cryptocurrency will become cheaper by 15-20%, said Veys. He also believes that the upcoming halving will support its price, as the supply of the coin will decrease.