According to Tone Vays there's 70% chance that Bitcoin hasn't hit a bottom

05 Jan, 2019 | Updated: 05 Jan, 2019
by Will Heasman
News
According to Tone Vays there's 70% chance that Bitcoin hasn't hit a bottom

Tone Vays, the Prominent crypto personality, Bitcoin trader, and analyst has offered a fairly confident assertation that Bitcoin (BTC) hasn’t yet hit its bottom, despite numerous contrasting opinions.

During an episode of ‘On The Record’, Vays told host, Murad Mahmudov, that he believes there is a sizable 70% chance that BTC is yet to find a true bottom.

Vays adds that there is a 40% chance that BTC will find that low around $1 – $2K and a further 10% chance that it will head under $1k, suggesting that BTC will break 2018 lows, landing at a price not seen in over a year. 

Conversely, recent analysis from the GTI Vera Convergence Divergence indicator suggests that bitcoin is in the grips of its longest buying streak in 6 months, a statistic which shows promise for the #1. The experts say that if this buying pressure continues, BTC could exhibit a rise.

Vays also had a fairly bearish short-term outlook, stating that the market wouldn’t see any other all-time highs until 2020, a date echoed by many other market speculators, such as John McAfee, with his infamous $1 million by 2020 prediction.

Vays has been mocked for his predictions in the past, at one point shorting BTC a perceived bottom of $6400, just before a notable rise.

However, Vays (obviously) had the last laugh, winning both the trade and some pride back. Will his new prediction ring true? We’ll soon see…

(Update: the article was changed to reflect Vays' true projections)

Read more: Tone Vays shorts Bitcoin near its yearly low, gets mocked by Twitter...Bull run soon?: Crypto technicals indicate 'buy' signal

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