Mi. Jul 24th, 2024

• Tone Vays, a well-known analyst and trader, predicts that Bitcoin (BTC) could reach $300,000 in the next bull market.
• He believes the rally could go as high as 792% to 1,238% from its current prices.
• In the short term, he believes that the Bitcoin pullback is not over yet and it could drop to around $20,000.

Tone Vays Predicts Bitcoin Price Breakout to $300K

Tone Vays, a seasoned trader and a well-known analyst recently predicted that the star crypto – Bitcoin (BTC) – could be gearing up for a massive explosion that may go as high as $300,000 in the next bull market. He believes that this rally could go as high as 792% to 1,238% from its current prices if it follows the same pattern of 2017’s cycle or else it can hit once near the end like 2021’s cycle which will result in higher price of $300K.

Two Paths for Bull Market Rally

Vays revealed two paths for this upcoming bull run in his new update – either it can hit this line [diagonal resistance] twice like 2021’s cycle or hit this line once near the end like 2017’s cycle. He personally prefers hitting it twice so that we can see higher price of $200K rather than going directly to 300K which he thinks is too expensive at present.

Current Market Situation

Presently, due to lack of bullish momentum within a narrow range, BTC’s price is undergoing consolidation action. The possibility of a bullish breakout may not be distinguished at present but Vays is sure about his prediction and strategy with 6-digit target for Bitcoin (BTC). The price is presently trading around $22,401.73 with a drop of 0.03% in past 24 hours while its market capitalization stands at around $432.74 billion and trading volume is around 14.17 billion which are largely dominated by bears at present time.

Short Term Prediction

According to him in short term we should expect more pullback till long-term moving average which means price dropping down towards 20k levels before making any comeback towards higher levels.

Conclusion

Although there are many speculations about BTC’s future price movements based on analysis done by various traders/analysts , Tone Vay’s recent predictions are very optimistic and hence worth paying attention upon especially when considering long term investments into cryptocurrency space

Von admin