Tone Vays Brags About Calling Crypto’s Bear Market in January and Bitcoin (BTC) Holders Are Delusional
Right now, the Baltic Honeybadger 2018 Bitcoin Conference is happening and we are seeing some very interesting opinions coming straight from the conference, which is being held in Riga, Latvia, right now.
One of the most interesting panels was the one organized by Matthew Mezinskis, the host of Crypto Voices, a podcast. One of the panelists, Tone Vays, a Wall Street dealer and host of the Crypto_Scam podcast, had a lot of opinions about the current crypto market. The two other panelists at the time include Whale Panda, a Bitcoin accumulator and Florian Maier, a software engineer which works in security.
Mathew stated that the Bitcoin price was in $4000 USD last year, so it is still higher than a year ago and people who bought it soon are still on the profitable line. Then, he proceeded to ask whether people should hold or trade their Bitcoins.
Whale Panda, as expected, stated that no one should trade and added that 90% of the people who traded would lose money. Tone Vays also believed that leaning towards trading was not such a hot idea right now as it is easy to lose your money while trying to get profits from arbitrage if you do not know what you are doing.
According to Panda, Bitcoin trading is like gambling sometimes if you do not learn what you are doing because you will not understand the market. Panda has explained that “everybody is a genius during the bull market” and it is easy to make money but the real traders are tested during the bear market.
However, Tone Vays disagreed with Whale Panda. He affirmed that most of the people were still very delusional about the Bitcoin market and that they did not believe that the bear market was already. According to him, many people still believe that Bitcoin might reach the price of $15,000 USD in this year, but that is highly unlikely. Vays has called bear market in the second week of the year and this prediction has been correct ever since.
Maier affirmed that trading is difficult and that some preparation is vital for people who want to actually get profits safely from this market. He affirmed, at the end of the panel, that it was very stressing to trade all day and that he would absolutely recommend against it.