Famous crypto trader Tone Vays, bitcoin (BTC) warned its investors for a disaster scenario that may occur in the coming months!
Addressing his 120,000 subscribers in a new YouTube video, Vays said that Bitcoin 7-month moving average of 20-month moving average He said he was in danger of falling.
Vays said:
We want to avoid this moving average crossover. BTC price should rise above around $50,000 in the current month or next month. However, if such a rise occurs, this intersection will be shelved.
Noting that the same scenario has happened before, the famous trader reminded that Bitcoin lost half of its value when the 7-month moving average fell below the 20-month moving average for the last time.
What Happened When It Happened Before?
After this situation in November 2018, the BTC price dropped from $ 6000 to $ 3000. However, in the following months, the bull season started and the price rose up to $ 14.000 in 6 months.
After the Fall, Bull Season May Come!
According to Vays, if history repeats itself in such a fall, a new bull seasonIt can bring with it.
I wouldn’t be surprised if a bull season starts after such a thing happens again for BTC, which rose by about 5x after the big disaster in November 2018.
Vays said, despite all his negative predictions, he did not neglect to sprinkle water on the hearts.