The crypto market has been seeing a lot of corrections, and now things seem to be slowly but surely getting back on track. Check out the latest price predictions for Bitcoin coming from Tone Vays.
New Bitcoin price prediction
He said that he’s still biased on Bitcoin in the bullish direction and that BTC has not yet entered bear territory.
“I believe in higher highs and higher lows, especially in a consolidating environment. So for me to admit that there’s a bear market, I need to break this low [$28,805].”
He also made sure to addresses some important reasons for which he believes Bitcoin is still in a bullish environment from a fundamental perspective.
“When we go up exponentially, it’s easier to call the start of a bear market. When you don’t go up exponentially, and this looks exponentially in absolute terms [BTC rally from $3,700 to $64,000], but not in percentage terms. And also not based on what was happening in the general environment.”
He continued and explained:
“MicroStrategy is getting in. Tesla’s getting in. El Salvador accepting it as a reserve currency. These were very bullish macro signs.”
He also made sure to say that Bitcoin’s market structure in the higher timeframe remains bullish. He is expecting BTC to reach a new ATH soon.
He also said that $100k is back on the table.
“I will always make the bet that the breach of the prior swing high will take us all the way back up here [$100,000]. I will always make this bet.”
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $37,643.
Not too long ago, it’s been revealed that Morgan Creek Digital co-founder Anthony Pompliano is currently addressing key on-chain metrics to determine whether Bitcoin (BTC) whales are already accumulating the king coin