As Bitcoin approaches $7,000, crypto trader Tone Vays believes it has a 15% chance of falling back below $3,800. Vays made his remarks known on Youtube “Going above $6,800 would maybe give me 85% confidence we’re not going to go below this — and we’re almost there, we’ve almost broken it; we’re sitting at resistance…right now, I believe there’s a 20-25% chance we’re going to go below $3,800,” says Vays.
Vays had earlier warned traders about a potential Bitcoin crash all the way down to $2,000 sometime before the upcoming halving in May. At the moment, however, Vays is urging traders to enter the market instead of holding out for a possible plunge.
” to inject into the system.
Bitcoin’s recent rise after its significantly low levels in recent times could be tied to the renewed faith in the system based on the Fed’s actions.