Tone Vays still not convinced that crypto winter is over and done with

12 Jun, 2019
by Joeri Cant
News
Tone Vays still not convinced that crypto winter is over and done with

Derivatives trader, analyst, YouTube personality, and now perhaps the only remaining perma-bear, Tone Vays, revealed that he still does not trust the recent rally in the crypto markets.

The former Wall Street executive, crypto analyst and YouTube personality, Tone Vays, revealed in a Cointelegraph interview that he still does not trust the recent rally in the crypto markets and that he remains skeptical about the 'fact' that crypto winter is over.

The crypto contrarian, and former financial analyst at banking giant JPMorgan, claimed that the reason why he thinks crypto winter has not yet passed, is because he has not observed 'too much external money coming into the space'.

According to Vays, BTC's recent surge from around $3,200 to today's current prices, was supported by internal capital, stating that there is evidence of enough accumulation by those who preferred to hold their crypto instead of selling it out.

'If that internal capital gets scared again', says Vays, 'crypto prices would drop as fast as they surged.'

Chepicap reported at the end of May that Vays pointed out in an interview with YouTube channel MMCrypto, that he didn't trusted the recent BTC rally

'I am selling Bitcoin now', Vays said in the interview, while he continued to explain why he is convinced Bitcoin could still crash back to the $4,200 - $4,500 price mark by the month of June.

Do you think Vays could be correct in his prediction? Let us know in the poll below.

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