Former Wall Street trader Tone Vays claims that Bitcoin has already reached its bottom at $ 3800 and is likely to sink below $ 5,000.
Cryptocurrency analyst Tone Vays in today’s issue of Trading Bitcoin on Youtube described a week of chaos for Bitcoin and other cryptocurrencies. Vays stressed that the bears had not yet spoken the last word, and the price could still be below $ 5,000.
He said that despite a week of nightmares for all traders, Friday’s return after a price drop to 3800 would not be the final bearish chapter. Asked in a discussion in the video, he said:
“I still think we will drop below $ 5,000 again? The answer is: yes. The bear market is over, but going back up will be harder than people realize. ”
Although worries about the fall to $ 1,000 were much higher, the market eventually came back. Concerns remain mainly from the panic of coronavirus disease.