Tone Vays, in his latest YouTube video, tells us that the price of Bitcoin will remain stable. For him, $ 6,800 is still a good level to start a bull run 🐮.
Tone Vays tells us about the price of Bitcoin
He is a former Wall Street trader, and former Vice President of JPMorgan, who is now one of the most listened to voices by own and strangers on the cryptoverse. Tone Vays started cryptocurrencies in 2013 and has since become active in spreading information about the importance of Blockchain technology in achieving economic freedom.
The Bitcoin trader started his session of “Community Trading” with the affirmation that Bitcoin can change its market trend at any second, either up or down. Although for him, it is most likely to remain stable for a few more days.
S&P can play against Bitcoin
Tone Vays not only has models that explain Bitcoin’s price behavior, it also has them for the traditional market. And with the increase in cases of Coronavirus in the world, and the lack of response from health experts, it makes him foresee that the S&P 500 will have a fall in the course of next week.
But, unlike other occasions, it predicts that the price of Bitcoin will also be affected, a little, with the next drop.
“I think the S&P drop will drive BTC down, but only a little. I think the resistance level at $ 6,800 is very good. ”
Furthermore, the former JPMorgan vice president expressed that he will be very optimistic about the price of BTC in the whole of next week, and he expects the market to behave excellent this week.
Tone Vays not only hodlea, it also accumulates
Tone’s optimism is so great that he expressed “I hope that the price of Bitcoin will increase in mid-April, I am not only hodling but also accumulating more”
For him, one of the signs that make April a “Bull Month” is the fact that BTC every 2 days is reaching weekly highs.
“The week of April 13 will be when everything changes for Bitcoin since the Coronavirus crisis began.”
Former JPMorgan Vice President sees no record high in sight
Unlike many other optimistic experts. Tone Vays does not see that the price of Bitcoin can break all-time highs at least in the short term.
The crypto expert bases these claims on his chart of Bitcoin’s dominance in the marketplace, which, for him, represents one of the best indicators for determining whether BTC could ever get closer to $ 20k.
BCH and BSV Halving are hours away
One of the topics that has been talked about the most in the last days is how the effect of the Coronavirus has affected the crypto mining sector ⛏ of Bitcoin. Due to the closure of BTC farms, and the volatility of prices due to the pandemic. The hash rate has been decreased considerably.
But, for Tone, this does not have much relevance because in his own words.
“Upcoming Shitcoin Halvings will do nothing more than add Hash Rate to the Bitcoin network.”
Speaking of the Shitcoins, Tone Vays shows in his video a graph with the performance of the top 10 of “Shitcoins”. In which it ensures that Binance Coin (BNB) is a Scam. “How can you say that it is not a Scam when we see that it is the only Shitcoin that has had a better performance than Bitcoin“
Don’t take your eyes off the price of Bitcoin
“I would love for this ascending triangle Bitcoin is in to spread out as humanly as possible in late April, while everyone gets frustrated that the breakup will never come, and then it comes.“
For Vays, this point could hit mid-April, and it would rock Bitcoin’s price to as high as $ 9,100 in a matter of hours. This is why the former JP vice president thinks that the current level of Bitcoin prices is a starting point.
“It will be very interesting to see the face of traditional bankers and traders when Bitcoin reaches $ 9,100 and the market begins to drop. Don’t take your eyes off the price of Bitcoin, and listen to my advice”