Seasoned trader Tone Vays believes that Bitcoin (BTC) could be gearing up for a massive eruption to the six-figure level and go as high as $300,000.
In a new strategy session, Vays tells his 123,000 YouTube subscribers that Bitcoin could explode between 792% and 1,238% from current prices in the next bull market.
“So this is my projection. There’s two paths. We can hit this line [diagonal resistance] twice like we did in the last cycle [2021]. [Or], we can hit this line once near the end like we did in the prior cycle [2017]. If we hit it near the end, we’re going to go higher [$300,000]. If we hit it twice, we’re going to go lower [$200,000].”
Personally, I’d rather [we] hit it twice. I’m tired of Bitcoin being this cheap.”
Looking at the trader’s chart, it appears that he thinks Bitcoin could rally toward his initial target of $200,000 some time in 2025. Should BTC go higher and rally to $300,000, Vays believes that can happen in late 2025 or early 2026.
In the short term, however, Vays thinks that the Bitcoin pullback is not yet over.
“The [previous] week closed poorly, which at the moment sets us up for a pullback all the way down to the long-term moving average and $20,000.”
At time of writing, Bitcoin is trading for $22,490.
I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Monarch Art/WhiteBarbie
