Knowing the Fall Under $ 7K Analyst: Bitcoin’s Two-Year Nightmare Ends!
Bitcoin (BTC) price’s recovery after the historic ‘Black Thursday’ collapse turned master analyst Tone Vays into a bull.
Former Wall Street analyst rises in Bitcoin
Former Wall Street analyst Tone Vays said that Bitcoin is now on the rise. The master analyst responded to Mike Novogratz, who recently predicted that BTC could exceed $ 20,000 in 2020 via Twitter. Tone Vays estimates that Bitcoin may soon begin to act as a “safe haven” asset, leaving its correlation with the stock market.
— Mike Novogratz (@novogratz) April 8, 2020
Despite being a proud Bitcoin maximalist, Tone Vays was a relentless Bitcoin bear. In fact, the analyst accurately predicted and dropped BTC below $ 7,000 in December. In January, Tone Vays said that the BTC price of over $ 10,000 would reverse the bullish trend over the next four years. BTC rose to $ 3,800 during the price slump on March 12, though it rose to $ 10,530, the highest level in 2020 (Black Thursday).
Tone Vays: Bitcoin’s two-year bear market is over
However, the strong leap from the local bottom allowed Tone Vays to suggest the end of the two-year bear market. Tone Vays says that in his new video, Bitcoin is about to be a “safe haven” asset. The leading cryptocurrency showed its risky side during the hard sale due to the coronavirus outbreak. However, the analyst expects the cryptocurrency to begin separating from stocks now.
It's hard to say if #Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard.
Ex: These capitulations 'usually' drive price to NEW lows but we stayed above $3,150. pic.twitter.com/zD3FT1reeD
— Tone Vays (#EndLockdowns) (@ToneVays) March 13, 2020
As previously reported, Bitcoin’s relations with the S&P 500 and gold reached their highest in the crisis. However, Tone Vays emphasizes that BTC will now begin to rise. For other critical news about cryptocurrencies, “Binance Lists Altcoin Known as the” Ethereum Killer “!” You can review our article named.