BTC Maximalist ‘Tone Vays’ Says Once Bitcoin Rallies, Altcoins Likely to be ‘Wiped Out’ from the Market
In a recent interview with former stock market trader turned Bitcoin evangelist Tone Vays, the ever insightful crypto proponent said that as we head into the new year ‘Bitcoin seems poised to make a big run’.
When questioned regarding the most important events faced by the crypto sector throughout 2018, Vays was quick to point out that apart from the market decline that has been witnessed all through the year, it was also interesting to note that the recent downturn was quite different to the slump that was observed all the way back in 2015. Not only that, the former JP Morgan employee also let it be known to the masses that it now appeared as though the “the altcoin bubble would not return,” and that apart from the top altcoins, none of the smaller digital currencies would likely see a resurgence.
In terms of what triggered this latest bear market, Vays indirectly said that the recent Bitcoin Cash debacle along with some other smaller events surround this burgeoning space could have caused this latest downturn.
More On The Matter
While a lot of skeptics have bashed Vays for his altcoin-related views in the past, it should be noted that recently he was quoted as saying that Ethereum (ETH) could fall to the $0.2 mark (in the coming few years).
Also, in a similar vein, Jimmy Song, a leading Bitcoin educator too believes that there are many “crappy altcoin projects’ in the market today and that most of these currencies will eventually be flushed out as a natural result of their worthlessness. Further explaining his views on the matter, Song was noted as saying that there were currently a “lot of malinvestment in this space,” and that it would be good for the fluff to make its way out from this market so that other bonafide investment opportunities could enter the crypto sector.
Vays: “Bitcoin Reversal Will Happen In 2019”
While talking about his Bitcoin related optimism heading into the new-year, Vays said that as traditional stock markets continue to crash and tumble, more and more consumers will start to realize that “Bitcoin never really died”. He then went on to say that he personally believes that the reversal will start sometime in the latter half of 2019.
Lastly, in a recent interview, Vays was also quoted as saying:
“The marking of 2019 will be the end of the Bitcoin bear market, and the start of the next bull market. This time, with side chains, scaling, privacy, and I can’t wait [for it].”