The crypto market looks better today with more important digital assets trading in the green.
The best time to buy is near
It’s been just revealed that veteran trader analyst Tone Vays said that he believes that the best time to buy Bitcoin in years is just around the corner.
In a new episode of Trading Bitcoin, Vays, who has been really bearish on BTC all over 2019, said that he believes that BTC will be hitting a bottom before the next halving, which is set to take place in May 2020.
“If you prepared for this BTC low, it should be the best time to ‘buy the dip’ for years to come…” he said.
He continued and explained that “I believe that the low for this current down cycle since June will take place before the halving. Not after the halving. The most logical place for me right now as to where that low is going to be is somewhere between $4,000 and $5,000.”
Trading #Bitcoin – $7k Lost 😱 is it lost forever? Is $BTC now going to 0!… 😂, of course not, so let's take a look at what the charts say is a reasonable potential low:https://t.co/tQxfVHXWRB
— Tone Vays (@ToneVays) December 16, 2019
Two possibilities for the future of BTC
Vays also stated that Bitcoin’s climb to almost $14,000 this year shifted his analysis. He said that there are two outcomes for the future.
“By going as high as $14,000, we actually opened up two possibilities. We opened up the possibility that we could have a significantly higher low than $4,500, being in this $6,000 vicinity, which we have pretty much almost hit,” Vays noted.
He said that the second possibility is “another 80% correction down from that high, taking us down to $2,800.”
He made sure to highlight the fact that this latter possibility is less likely than a higher low because of the halving that will take place in 2020.
Anyway, at the moment of writing this article, BTC is trading in the green. The most important coin in the crypto market is priced at $7,170.05.
Just the other day, we analyzed a recent BTC vs. gold comparison, and the digital asset came out a winner.
