Cryptocurrency trader Tone Vays, bitcoinof (BTC) stated that the chances of rising above 75% from today are quite low.
Speaking on his YouTube channel with 116,000 subscribers, Vays stated that the probability of Bitcoin reaching over $100,000 in 2021 is now very low, but that this target can be reached in the first three months of 2022.
“I still want Bitcoin to hit $100,000 by the end of this year, but that scenario seems unlikely at the moment. But the $100,000 target for the first quarter of 2022 is still reasonable.”
The veteran crypto trader noted that if Bitcoin manages to break above the 50-day moving average, the leading cryptocurrency could bounce back.
“I predict bitcoin price will reject just below the 50-day moving average, prices are showing this right now. But following this rejection, if the same level is retested, then I expect that level to break and move up in a few weeks.”
bitcoinVays stated that the ‘more likely scenario’ to follow is a downward spiral; He stated that the price is falling in the small picture and rising in the big picture.
Bitcoin is trading at $56,300 at the time of writing.
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