Cryptocurrency analyst and experienced trader Tone Vays predicted a positive scenario for the future of Bitcoin, discussing the potential of the leading digital asset to continue its rise in the coming period. According to Vays, Bitcoin breaking through current price levels, and especially breaking the $48,222 resistance level, could mark a major turning point in the cryptocurrency.
If Bitcoin exceeds the $48,222 level, Vays stated that the cryptocurrency will reach its highest level in two years. This raises the possibility of Bitcoin surpassing its past peak prices and even a scenario in which this asset could reach its all-time high price of around $69,000.
“[50.000 doların üzerine çıktıktan sonra] The only other high to deal with will be a close at the all-time high of $65,000. If Bitcoin starts to rise above $50,000, I think FOMO (fear of missing out) will emerge. “Everyone will rush in as if the ultimate FOMO is about to be unleashed.”
Koinfinans.com According to Vays, as reported by Vays, Bitcoin may not make a significant correction going forward, as evidenced by what happened before and after BTC’s third halving event.
“It would be great for Bitcoin price to fall below $35,000… to get as low as $30,000 for a proper pullback. But as we’ve seen in previous bull markets, we don’t tend to get that… [2019/2020’de] when we climbed over the previous couple hills… in the summer of 2019 [Haziran] We had a double top here at around $14,000, $15,000. And then once again in August, in the summer of 2020 – a double top formed once again.
And then we broke the double top and the only thing potentially standing in Bitcoin’s way was the all-time high of $19,000. And [Bitcoin’in] You can see how it breaks right above this point and continues to move forward. So, we can make it happen again.”
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A double top is a pattern that occurs when the price of an asset makes two consecutive peaks at a resistance level.
Bitcoin is trading at $42,466 at the time of writing this article.
As a result, this upward expectation predicted by Tone Vays for Bitcoin has aroused excitement in the cryptocurrency community. However, it is important for each investor to do their own research and carefully consider their decisions. The future of cryptocurrencies is uncertain and any investment decision should be carefully considered.
You can follow the current price movement here.