These Targets Will Confirm Bitcoin Bull Market With 95% – 98% Certainty, Says Veteran Trader Tone Vays

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A sea­soned cryp­to trad­er says he can near­ly guar­an­tee the begin­ning of a new bull mar­ket if Bit­coin (BTC) hits cer­tain price targets.

In a new strat­e­gy ses­sion, Tone Vays describes to his 123,000 YouTube sub­scribers a sce­nario show­ing how Bit­coin bulls could effec­tive­ly end the year-long bear market.

Accord­ing to Vays, BTC bulls must push the price of the king cryp­to to its swing high in Novem­ber to have a very good chance of ignit­ing a fresh bull market.

“I want to see a move to just under $23,000. If we get reject­ed, we need to hold $19,000 on the rejec­tion, and then we need to come back and start to chal­lenge $23,000. That tells me with about 95% to 98% cer­tain­ty the bull mar­ket has begun. Until we get that sit­u­a­tion, I don’t have a 95% cer­tain­ty that the bull mar­ket has begun.”

The cryp­to trad­er who accu­rate­ly called BTC’s col­lapse in 2018 is also open to the idea that Bit­coin could wit­ness anoth­er sell-off event. How­ev­er, he high­lights that BTC will like­ly imme­di­ate­ly start a new bull ral­ly after traders capitulate.

“Anoth­er sce­nario is if we crash down to $11,000 or low­er. I believe the bull mar­ket will begin imme­di­ate­ly after that because I just don’t believe Bit­coin can go any low­er. So those are my two ulti­mate scenarios.”

In either sce­nario, Vays expects Bit­coin to hit the $23,000 price lev­el lat­er this year or in ear­ly 2023.

At time of writ­ing, Bit­coin is trad­ing at $16,651, a frac­tion­al increase on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Fea­tured Image: Shutterstock/Philipp Tur



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