Crypto Researcher Selling Bitcoin (BTC) Anticipates Nosedive to $4,200: ‘I May Be the Last Bear Left’
Despite the recent wave of crypto personalities publicly expressing bullish outlooks on Bitcoin’s immediate future, Tone Vays isn’t changing his mind.
In the short term, the derivatives trader and blockchain researcher remains bearish on Bitcoin, which he predicts will drop to the $4,200-4,500 price range by the second half of June.
In a May 24 interview on MMCrypto, Vays outlined his belief that the currency would top out at around $9,400 this month, though he adds that the currency “could drop sub-$7,000 any hour.”
“Everyone has already declared that the bottom is in. I am still a little skeptical, so I may be the last bear left, but I still think that we’re not out of the woods. I don’t trust this rally. I don’t believe this run-up. I want Bitcoin to go up as much as the next guy, but I want it to go up sustainably.”
Back in March Vays said the bear market is not entirely over until BTC hits $10,000.
Meanwhile, in an interview with CNBC Crypto Trader on the same day, television personality and entrepreneur Max Keiser is focusing on the long term.
Keiser believes Bitcoin will hit $100,000, though he doesn’t think it’s important to predict when.
“The timing of when is immaterial. It is still going to outperform every asset you can possibly imagine owning over the next five, 10, 15 years. Forget about timing. Timing is for people who think I am gonna wait and buy it at a better price, and that is a bad way to approach crypto. Stack Satoshis. Stack SATs… If you bought your mom a Mother’s Day gift, that was a waste of money. You should have been stacking SATs.'”
Bitcoin is currently trading at $8,785 at time of writing, surging over 16% in the past five days.