Crypto Analyst Tone Vays Unveils $100K Bitcoin (BTC) Timeline – Plus Ethereum, XRP and Ripple Updates
From an updated take on Bitcoin’s next potential bull run to new support for BTC, ETH and XRP, here’s a look at some of the stories breaking in the world of crypto.
Crypto analyst Tone Vays is updating his timeline on when he thinks Bitcoin may hit $100,000.
In a new interview with BlockTV, Vays pours cold water on predictions that BTC will break through its all-time high next year.
“Once we break $20K, we can go to $50K or $100K pretty quickly, but I’m not expecting us to break $20K in 2020. I’m really looking for the bull market to really take off around 2022, 2023.”
Vays says he’s still bearish on Bitcoin and thinks the leading cryptocurrency will break below $7,000 before May of next year.
“To me, the big run up was 80% exit out of altcoins, 20% institutional investing. Now that the price is starting to go down, they’re probably not as eager. They’ll wait for a bottom because that’s why they’re a little bit smarter.
At the moment, I still see lower prices. I still think we’re going to go lower than $7,000 before the halving. But after that, that would be the final secondary low. Hopefully it’ll be higher than the $3,000 low back in December. And then we can finally start a bull market after the halving.”
Ethereum and XRP
The crypto exchange Binance is rolling out support for the Turkish lira.
An updated list of coins available for purchase on Binance.com reveals that the exchange is working with the digital wallet company Papara to offer Bitcoin (BTC), Ethereum (ETH) and XRP in exchange for the lira.
So far, Binance does not allow customers to sell crypto assets for the lira.
Ripple says a new survey shows many financial service providers still have major concerns about the legality of blockchain technology.
The survey questioned 1,053 professionals across 21 countries who are working directly with payment services at their organizations.
According to the San Francisco startup, 35% of respondents say regulations are too uncertain, and 32% believe current regulations are too restrictive.
“These regulatory concerns, however, vary notably by a payment service providers’ adoption stage, level of digital channel usage and location. Not surprisingly, the next wave of adopters (those nearing implementation) are less concerned about regulation than the late adopters (those in conversation).
Similarly, digital banks that have already transformed the bank model are less concerned than traditional retail banks. Respondents in emerging markets have even stronger concerns about regulations being prohibitive, and advanced markets are the most concerned about uncertain regulations.”
You can check out the full survey here.