Bitcoin More Likely To Surge Higher Than Plummet, According to Veteran Crypto Trader Tone Vays – Here’s Why
Amid a downturn in the market, veteran crypto trader and analyst Tone Vays remains bullish on Bitcoin (BTC), saying that he believes the chances of Bitcoin surging by over 30% from current levels are higher than the probability of the flagship crypto asset plunging to around $22,000. Vays’ bullish thesis is based on the fact that the Bitcoin halving event is less than a year away. According to him, as time goes on and the halving event gets closer, he becomes more confident in support areas after a pullback, stating that there is less time to go to the halving.
Vays went on to say that the probability of a random swing to the upside, where Bitcoin could reach $34,000, is way higher than a random crash to the downside, where it could drop to $22,000. Currently trading at $26,792, Vays believes that a $7,000 increase to reach $34,000 is a lot more likely than a $5,000 drop to reach $22,000 from the current levels.
He also believes that Bitcoin’s recent pullback to $25,000 is still a secure level for the crypto asset, just like it was at $20,000. Vays’ bullish thesis will remain intact even if Bitcoin undergoes further corrections, as he believes that the downside is very limited.
Despite the recent market downturn, Vays remains optimistic about Bitcoin’s future and believes that it has a lot of room for growth. As a seasoned analyst, Vays’ analysis is based on his years of experience in the cryptocurrency market, and his opinions carry a lot of weight in the crypto community.