Analyst Tone Vays comments on the worst-case scenario for bitcoin price

Charlie Taylor 10 months ago

Coingoback" srcset="https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1.jpg 700w, https://cointimes.com.br/wp-content/ uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-150x32.jpg 150w, https://cointimes.com.br/wp-content/uploads/2022/06/Banner-Coingoback-700x150-1-585x125.jpg 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;"/>Vater analyst and bitcoin trader Tone Vays is revealing his worst case scenario for BTC in the near term. On-chain analyst Willy Woo, Vays says that with Bitcoin's recent high to the $42,000 level, he is less convinced of a significant move down for BTC as he expects cryptocurrency to return to a new all-time high. "I still think there will be a small setback. At first, I thought the setback would reach $35,000 in the worst-case scenario, before to hit new highs. Now that we've reached $42,000 that's changed, I think the pullback shouldn't be less than $37,500 before it gets back to 40,000 and eventually comes out of it in August or early September. That's basically my overview of Bitcoin.” Vays' outlook is an adjustment to his previous forecast, in which the former Wall Street trader initially expected a “day of capitulation” for Bitcoin, where the BTC would print a new low of 2022. Now, Vays thinks the June 21 low of $28,675 will likely not be seen again as Bitcoin regains the $42,000 level. <blockquote class=“Are we about to make another short squeeze? At the moment, I still think we're in the 'don't touch' zone, but if we go back to more than $42,000, I think it will reach $50,000.”

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