Accoridng to the latest reports, it seems that Bitcoin could bounce back stronger than ever at the beginning of 2023. Check out the latest predictions coming from Tone Vays below.
Crypto trader Tone Vays reveals new Bitcoin prediction
Crypto analyst and trader Tone Vays is detailing the long-term bull case for Bitcoin (BTC) after the king coin reached two-year lows triggered by FTX founder and crypto outcast Sam Bankman-Fried.
In a new video, Vays said that even if Bitcoin falls to around $11,000, the largest crypto asset by market cap could still reach a new all-time high of $100,000 next year.
The veteran crypto trader believes that the Bitcoin collapse will likely attract buyers who plan to hold BTC for the long haul.
“We can have a capitulation down to $11,000 and still hit $100,000 next year. Because a lot of Bitcoin is about to go into cold storage because people can buy it on the cheap.”
Bitcoin is trading at $16,913 at time of writing, up by about 8% from the two-year low of around $15,600 hit on Tuesday.
Vays says that if Bitcoin closes this week above the $18,500 support level, this could be an indication that the flagship crypto asset has bottomed out.
“If we close the week above this support level [$18,500], I’m going to be somewhat confident that the low might be in. Right now, it looks very, very promising.”
The crypto market fell this week following the collapse of crypto exchange FTX.
They noted the following: “Our roadmap for sending all remaining Turkish Lira balances and Today, we plan to share the roadmap for converting users’ crypto balances into Turkish Lira and sending them to their bank accounts.”
“These regional subsidiaries of FTX are wholly owned by FTX’s ‘mothership’ in Antigua, FTX Trading Ltd, and license FTX’s technology stack in exchange for royalty payments sent back to the Antigua-based parent,” according to the online publication mentioned above.