Prominent Bitcoin Trader Touches on the Probability of BTC Price’s Bottom Value Range Being In
During the latest episode of Tone Vays’ ‘Trading Bitcoin’ series, the respected crypto analyst/trader spoke at length about BTCs chances of bottoming out in the near future (i.e. with respect to the currency’s price and time cycle).
In a recent video of Trading Bitcoin, Tone Vays discussed the chances of Bitcoin bottoming with respect to price and the time cycle of cryptocurrency…. https://t.co/abfsdhCKYl
— Bitcoin Warrior (@Bitcoin_Win) May 6, 2019
On the subject, Vays was quite adamant that the time-cycle of an altcoin was quite an important factor when trying to determine the start/end of a bear or bull run. According to him, he expects Bitcoin’s ‘bottoming phase’ to go on till the fourth quarter of 2019 (at the very least).
Other Interesting Information To Consider
- Vays firmly believes that major price corrections could take place within the crypto market in the near future. In this regard, he also pointed out that if BTC had scaled down to around the $2,000 mark during Q1 2019, the possibility of the flagship altcoin bottoming out would have gone up to around 80 percent.
- Additionally, Vays has also predicted that if BTCs price consolidates around the $3000 range between Q1 and Q2 2019, then it would be a good indicator that a bottom had been formed for the token.
The debate regarding whether Bitcoin [BTC] has bottomed or not has been going on for more than 4 months now. However, as the crypto market once again starts to experience more and more stability with each passing day, a clearer picture regarding this scenario will hopefully emerge and kill all of the white noise that seems to have engulfed this space at large.