Famous Analyst Tone Vays; "Bitcoin is on the Verge of Another Collapse"

Veteran investor and cryptocurrency analyst Tone Vays has made some bold predictions about the cryptocurrency market. Vays predicts that the price of the cryptocurrency leader Bitcoin (BTC) is on the verge of another crash in 2022 that could push it to a new unrecorded low.

In a new strategy session, Tone Vays, a cryptocurrency analyst who is highly regarded for the consistency of his commentary, told more than 120,000 YouTube subscribers that it is not good that Bitcoin, the most popular cryptocurrency, is desperately trying to hold on to the $19,000 level. Vays said the following in his statement: "The weekly chart will once again close with a disastrous candle. This is a red star candle. Unless there is a strong rally, it will close near the lows. But this is a holiday weekend, so I am skeptical about what is happening. Right now, we are in a downtrend. The four-day chart also reflects a bearish outlook. That's why we are 100 percent in cash.'' Looking at the daily chart, Tone Vays stated that Bitcoin is on the verge of breaking the support at $ 19,000 and that breaking the support could cause a new selling pressure: "The daily chart is preparing for an MRI (momentum reversal indicator) buy. This is the good news. What is the bad news? The bad news is that we are about to break very critical support and if that happens, the Bitcoin price could drop significantly. So we'll keep an eye on this development and hopefully early next week there will be a nice turnaround similar to what happened two weeks ago with the MRI buying." When the chart created by Vays is interpreted; With the break of critical support in BTC, the price may drop to around $14,500. The leading cryptocurrency Bitcoin is traded at an average of $ 19,124. If Tone Vays' predictions come true, BTC will record a 25 percent decline. Source CoinTurk The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content, comments and recommendations contained herein, which are in no way directive in nature, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.