This Former Wall Street Executive Still Awaits $4,000 While Market Sentiments say Level is Long Gone
- Bitcoin currently trades at $11,878 in the green
- Derivatives trader and analyst Tone Vays still expecting a drop to $4k
The Bitcoin market is enjoying a good 2019, being the top performing asset with 224 percent gains till date, this year. We saw explosive growth in the past three months that has the leading cryptocurrency climbing up to $13,900 level from the bottom of $3,150 in December 2018.
However, from the new 2019 high, Bitcoin took a tumble to $10,300. Though we have recovered and now trading at $11,878, it has sparked some bears.
Though the market is in a clear uptrend and analyst and traders have called this drop to be just a perfect “buy the dip” opportunity, Tone Vays is still hoping for a crash to $4,000.
He doesn't believe the bear market is over & is waiting for a 40% correction…
🗣️ What are your thoughts on the #bitcoin pull back? Is the bear market really over?
— Layah Heilpern 📺 (@LHeilpern) June 28, 2019
Derivatives trader, analyst, and former Wall Street executive Tone Vays might be the only perma bear remained in the market. His consistent belief in Bitcoin’s plunge to $4,000 price level seems to be unshakeable just like the bulls.
In an interview with BloxLive.TV, Vays said that he doesn’t trust the ongoing rally and still expects another 30 to 50 percent correction.
“I am still waiting for a significant pullback in the price,” Vays said. “What we just saw, wasn't it.”
Want to do a live stream from where I am right now, but the signal is beyond bad. Not even sure this tweet will go out… If it does, Lake George says hi!
As for #Bitcoin, while the large Time Frame TD counts are still Bulish, I think the 40-50% correction has started. pic.twitter.com/ywK2ZOrKP7
— Tone Vays [Bali – Financial Summit] (@ToneVays) June 28, 2019
“I still think it is possible for the price to drop to the $4,000 price area, before the bear market actually ends,” Vays said.
Given the way the bulls have permeated the market, this call for a crash only seems to be him FOMO-ing as one crypto enthusiast wrote, “Tone wants to stack up… i feel him.”
Earlier this month, Vays had said that crypto winter is not over yet.
“[I don’t see] too much external money coming into the [bitcoin and cryptocurrency] space,” he said.
Here is my bet offer as I take off on a 17hr flight:
If #Bitcoin drops under $2K you give me 100 $BTC = $200K that day.
If it does NOT drop under $2K, I give you $250K or 1 BTC (whichever has a higher $ denominated value)
I have until 2024 halving to be sure $2k won't happen :)
— Tone Vays [Bali – Financial Summit] (@ToneVays) March 5, 2019
Though everything is possible in the Bitcoin market which works in its own way, a drop to $4,000 level seems unlikely at this point. What are your views on Tone Vay’s expectation for Bitcoin to fall down to $4,000 still?
Bitcoin’s price is $56,955.14 BTC/USD exchange rate today. The real-time BTC market cap of $1.07 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $28.57 Billion and live coin value change of BTC 3.79 in the last 24 hours.