Bitcoin is preparing for a 400% rally, according to cryptoanalyst Tone Vays – here’s his timeline
Experienced crypto trader and analyst Tone Vays predicts that Bitcoin (BTC) will reach a six-figure price in 2023.
In a Kitco News interview, the veteran crypto trader says Bitcoin’s next halving cycle will trigger a bull run next year.
Vays says he will be “surprised” if the flagship digital asset doesn’t hit six-figure prices in the coming months.
“I expect we will have a nice bull market next year because of the halving that is coming…
The halving will probably come a little earlier, people always underestimate it. Probably closer to March or April 2024. But the hype that the halving is coming will come much earlier.
So I expect we will have the full bull run, which may even be complete before the halving because it can exhaust itself.
So I would be surprised if we don’t get close to $100,000 sometime next year.”
According to Vays, there is likely to be a reversal in the crypto market’s downtrend, as sentiment is currently skewed.
“So many people expect more from a crypto winter. And when too many people are on one side of the market, it turns. And right now I see very pessimistic sentiment…”
On the macro front, the veteran crypto trader and analyst says digital assets could benefit from speculative money flowing into them, amid the possibility that traditional assets such as bonds and real estate could collapse.
“I think there’s going to be a big collapse in the bond market. There might even be a collapse in the real estate market.
But I think that a lot of speculative money will flow into the stock market and into the crypto markets.”
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