Tone Vays: Bitcoin sinking to $1,300 "remains a realistic target"

05 Apr, 2019
by Richard Allen
Opinion
Tone Vays: Bitcoin sinking to $1,300 remains a realistic target

Despite Bitcoin’s impressive performance over the last few days, crypto trader and analyst Tone Vays has remained decidedly sober on Bitcoin’s potential trading price, stating it is possible we’ll see BTC at $1,300 again.

Vays made the comments during Ivan on Tech’s Good Morning Crypto Show, where he stated:

“My worst case scenario target is $1,300. It doesn’t mean that Bitcoin has to get there, but to me, $1,300 has been a realistic target for over a year and it remains a realistic target.”

Vays, a former Wall Street analyst turned crypto trader, thinks it’s time to be accumulating even though BTC has the potential to lose value.

When asked how his sentiment differs to that of Tyler Winklevoss, Vays stated that he’s a little more optimistic, explain that Tyler believes Bitcoin could sink below $1,000. However, he admits he has “a significant HODLing position” which makes him that much more invested in Bitcoin.

Vays goes on to say that his fundamental analysis has suggested that the market hasn’t bottomed yet.

“My fundamental analysis is very very simple, Bitcoin is a legitimate asset that has a future, all other cryptos do not. I don’t believe they are legitimate and I don’t believe they have a future. So, when I see altcoins pump harder with the Bitcoin rally, it tells me that the market has not bottomed and that the bear market is still with us,” he explained.

Read more: Vays shorts Bitcoin after pump, wants to see altcoins die first

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