Tone Vays’ Bitcoin Bet: If You Think BTC is Going Below $2,000 then 100 Bitcoins Are Yours
It’s not only the next Bitcoin peak the crypto community is talking about and betting on, but the current hot topic in the Bitcoin market is the bottom.
Last year, in December Bitcoin, hit the yearly low at $3,200 and since then the community is divided on if Bitcoin has already hit the bottom or if we are going to see even more lows. Well, some analysts are pretty confident that Bitcoin as seen all the pain that it has to endure and more bleeding is isn’t the necessity of the market. While other beliefs, Bitcoin has yet to see the bottom of the glass and that is expected to be when we are complacent enough to think we are out of the woods.
Whether the bottom would be below $3k or at about $1,800, that’s to be seen, but for now, another analyst has come forward with a bet that Bitcoin is going under $2k.
Do You Think Bitcoin Is Going Below $2k?
Derivatives trader and analyst, Tone Vays took to Twitter to announce a bet on the Bitcoin price which he believes is going to drop below $2k. If BTC does drop, Vays would give $250k or 1 BTC whichever has the higher denomination to the one who agrees to this bet.
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
Many have agreed to place this bet with Vays as one BTC enthusiast Guntis Vitolins says,
“I'm ready – you put 200k in escrow I'll put 100 btc in escrow. If it doesn't drop to 2k till 2024 it unlocks me 200k.”
Well, as one Twitter user, Alan Hung points out,
“Either way u are winning either u win from the person u betting with or u r winning from the market gain.”
Bets All Around
With Bitcoin high still far away as BTC price is expected to rise with the upcoming halving in 2020, all the eyes and bets are on the bottom.
Recently, crypto analyst @Sawcruhteez made a prediction that unless Bitcoin breaks its declining trend-line, we could see a similar drop to last November that may take BTC to under $1,000. In response, Leah Wald of Lucid Investments jumped onboard with,
“How Y'all feeling bulls?”
@filbfilb made a bet on it specific flying,
“I bet 1 BTC that Bitcoin will trade ABOVE $6k BEFORE it trades BELOW $1k.”
Wald agreed to the bet by setting the lower and upper limits of $1500 and $6500 saying it is an easy bet to make.
Tyler @LucidInvestment and I picked $1500 for the simple reason that we built in a $500 cheat because the Hyperwave target is $1000, and we don’t even need to get there. Tone’s target for a year and a half has been $1300. So, if @ToneVays is right and we get to $1,300, we win
— Leah Wald [Jan/3➞₿🔑∎] (@LeahWald) March 5, 2019