Bitcoin And Altcoins Warning Is Issued By Analysts
After the crypto space has been flooded by various optimistic Bitcoin-related predictions, now it seems that things are changing.
Crypto volatility is returning
Now, crypto analysts are issuing a warning regarding Bitcoin and cryptos.
They are warning traders to be really cautious because volatility is returning.
Tone Vays just said that although BTC has already had an essential correction from the 2019 highs, the daily and weekly charts are looking neutral, and he is still not convinced that this is the true start of a new major bull run.
“If I go over to the daily chart so you can see the percentage, we fell 47% from the swing high. That’s pretty damn good. That’s good. Am I convinced that the sub bear market within the big bear market is over? No. I’d rather be cautious…” he said.
Vays continued and explained that “I would not be trading right now. I know there’s a lot of volatility. I know everybody wants to trade. But right now, this thing could be in a bull market and still pull back to the $8,500 range. This also could have been bullshit, and we’re still going to make new lows.”
We recommend that you watch the video above in order top learnmore about what he had to say.
Bitcoin’s current price
At the moment of writing this article, Bitcoin is trading in the red on CMC, and the most important digital asset in the crypto space is priced at $9,254.21.
In other more optimistic price-related news, it’s been recently reported that Clem Chambers, market analyst and CEO of global finance tracker ADFN, revealed that he believes the price of one BTC could surge up to $100 million or even much higher.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.