Bitcoin (BTC) has probably reached its low point, as he reached around 3,700$. At least if one can believe the opinion from Tone Vays. At the same time, he considers it likely that the Bitcoin price will fall to the level of $ 5,000.In the latest edition of his YouTube series Trading Bitcoin from the 13. March of veteran traders focused on the week of Chaos for the Bitcoin exchange rate. This culminated in a 60% days of losses and ended in his surrender, he had been waiting for.Please note: None of this articles listed is to Formulate in any way the trading recommendations. This and the following article are solely for the exchange of information with our readership. Neither crypto Monday nor the author of this text shall be liable for any loss incurred as a result of the trading decisions of our readers. DYOR!
The Bitcoin capitulate to the bears?
In consequence of his YouTube Videos from Tone Vays on Twitter summed up his findings and wrote:
All signs indicate that this is the final capitulation of the 2-year bear market.
This set contains two interesting statements. That we have found to be, according to the Vays, contrary to the opinion of many in the market still in a bear market and that this has now ended and a trend reversal is imminent.Traditionally conservative in terms of the Bitcoin exchange rate and its price actions, suggested Vays in January of alert because of a possible weakness of BTC against the USD. He warned that there would be room for losses below the at this time identified about the $ 10,000 limit. Further, he wrote:
So it’s crazy for me is not to say, I think that there has been enough pain; I don’t think there has been enough Frustration
As we know, in the meantime, all should Vays keeping with this statement of law. Within a short time, the Bitcoin price fell into the seemingly Bottomless. But not quite as bottomless, the current price action seems not to be just yet, because according to the Vays we could have the ground already seen.
Bitcoin price is testing 50% re $5,000
As mentioned in the introduction of this article reveal, expects Vays that we have seen with the Dip to around $ 3,700 a the ground. An indicator that he could be right, is the rapid backswing, the Bitcoin exchange rate on this Level has received.After the Bitcoin exchange rate fell in only 3 hours of approximately 5,800 $ to about $ 3,700 a, it jumped again within an hour up to over $ 5,000. This speaks in any case for a very strong support level and the level at which many buyers will find on the market.Currently, the Bitcoin exchange rate is just under 5.350 $. According to the Vays the chances of a re crash to $ 5,000 at 50 %.
I still believe that we will still fall under the $ 5,000? The answer is: I do actually.
Distance, he is convinced that a “panic” would not be on the market, if the Bitcoin price will drop to $ 1,000. In the case he refers to the Hyper-wave theory for Bitcoin, according to which the BTC price up to $ 1,000 could decrease. While many had rejected this theory as implausible stamped, not the recent events again, so that one or the other is quite so sure.Vays, however, shows but a positive attitude about the future. At the same time he also draws attention to the fact that the rise of the Bitcoin exchange rate is going to be a tough one.
The final capitulation is done, the bear market is over, but the way back to the top will be more difficult than you can imagine.
This is the time to buy Bitcoin?
Many traders in the market are currently uncertain. Of course, understandably, given that it has not given such events as is currently the world’s so still. In addition, I personally see it similar to how Vays and think it is very likely that the Bitcoin price is possibly the most in the course of the day is the $ 5,000-a-re-ante. In contrast to Vays I personally am not yet convinced that it is going from there back to the top.In particular, it is in my opinion still the weekend to be seen, because it will be interesting to watch how the global markets re-opening to respond. Either we will experience a slight at least a temporary stabilization or a further significant decline. The latter, I think, not for unlikely, however, only the future will reveal, what lies ahead of us in the next week.The same when the Bitcoin rate is not correlated with the traditional markets, has caught on in the General panic on the crypto market, of course. In my yesterday’s article, I have touched on already, is that most institutional investors have dropped out at this time already out of the market. This assumption is simply due to the fact that, for example, Hedge Fund specific Compliance-must comply with guidelines in terms of their risk management, and highly volatile Assets such as Bitcoin in these times repel.Also if I am to continue falling Bitcoin price is not confused, because I know personally that the Fundamentals of Bitcoin has not changed, and times like these only create more awareness, why the world needs something like Bitcoin, is of concern to me, however, the dwindling liquidity in the market. Because of this, the Bitcoin exchange rate will again be at the mercy of the Whales, which can manipulate relatively small amounts of money to the BTC price. Recent events, such as the Manipulation of the ETH course underline this danger. Consequently, I believe that we should prepare ourselves for turbulent times, when the Bitcoin exchange rate will not jump quickly to a level of over 7,000 $ or more.If you’re editing, but to the market with a clean strategy to test, how our savings plan, you have to you about the short – and medium-term price fluctuations make only a few Worries. Considering that many have dubbed before a few weeks ago 1 BTC for a price of under $ 10,000 a as a clear Buy, it currently also but not so bad. Or what do you think?Do you want to position in time on the market?If you are convinced should be, that anything said could be true, then it may benefit for you at the time of this to Know. It is the decision of whether and how you the market position, of course, entirely up to you. We are here to help you to find the right entry point for your trade. Are you perhaps still in search of a reliable, regulated Broker that you trade with Leverage (2x),taking Long and Short positions,deposits via PayPal,the Sending of real Bitcoins in your Wallet andthe use of a wide range of trading tools,without a Download of any Software is necessary?Then, the world’s leading Social Trading platform, eToro is the Right choice for you!A pleasant Design and easy and intuitive operation with customer service around the clock. Register today, without obligation, and try out all the features of the platform, without being forced to trade with real money.What are you waiting for? Do you want to read about it or it is in their own hands? Your Trading start today, and profit from the strong fluctuations of the Bitcoin exchange rate.62 % of private CFD accounts lose money. No EU investor protection.You look better Videos to read the article? Then look at our Youtube Channel over. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)