Bitcoin Rejects $12k; Tone Vays Predicts BTC Breakout – This Is When BTC Hits $20k

Bitcoin rejected once again the level of $12 and now, the crypto market looks really bloody with most of the coins trading in the red.

At the moment of writing this article, BTC is also trading in the red and the digital asset is priced at $11,311.33.

Tone Vays is bullish on BTC

It’s been revealed that during a new strategy session, Vays said that he believes BTC will soon rise to $14,000.

After that, he is expecting to see the king coin going back to $10,700 near the end of the year, and then move to all-time highs around $20,000 in the first half of 2021.

He also said that Bitcoin’s upcoming cycle would shake off certain altcoins.

“Bitcoin is still kind of flying under the radar. People still believe in garbage like DeFi and many other scam coins, and new ones apparently are coming out. People still haven’t learned their lesson. So Bitcoin will fly under the radar, we’ll have a big 40% drop, shitcoins will fall 60-70%, and then Bitcoin will get to rise again. It’s the cycle all over again,” he said as quoted by the Daily Hodl.

BTC performs better than predicted

He also said that BTC was able to perform better in 2020 than initially predicted.

“Here’s my outlook: I’m pretty sure I’m going to lose my bet, and Bitcoin will close more than 90 days this year above $10,000. I’m pretty confident I’m going to be losing that bet, which is okay. I get to have a nice expensive dinner at my own expense with a friend.”

Another important thing to mention is the fact that he is also bullish on the S&P 500 in the long run following the big market correction back in March.

“I think the correction has already taken place. I don’t think there will be a one to four-year correction. I think that was it. The year started and we crashed with this red arrow and we’re now recovered. We’re positive on the year. That’s a huge bullish candle on the year.”

Check out the video above in order to learn more details.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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