Cryptocurrency

Bitcoin: Vays says that there is still no upward trend

The price of Bitcoin is always an issue that raises controversy. Both within the crypto world, where analysts and influencers compete against each other to try to calculate the next price to reach the criptomoneda. As out of it, where is discussed if the criptoactivos have value to start with. And among all this debate, an analyst as Tone Vays stands as one of the main crypto influencers in the world.

The position of bassist of the experts

Right now, the price of Bitcoin is in an important moment of its development. When the crypto influencers attempt to predict which is the dominant trend in the market. That is to say, if in the short term the price of BTC will continue to rise, or will we be about to witness a new fall of the criptoactivos. Up to now, the prevailing attitude within the crypto community. Was that the increase in the price of BTC was not sustainable in the time. And even more, presenciaríamos a fall in its price, at least during the first part of this year. A position that Vays shared. The same, contrasts with what has occurred in the price of Bitcoin in the last few days. When we have seen a recovery in its price. Which has passed since the 8.708 dollars for Bitcoin that opened the week up to 9.040 dollars per BTC that is traded in these times. Graphical weekly Bitcoin According to the position of some analysts, as we reviewed in CriptoTendencia. This increase in the price of Bitcoin would be a natural consequence of the fear that is creating in the markets the advancement of the coronavirus. And that would make the capitals refugiasen in assets book value as is the case of Bitcoin.

The position of Vays

For its part, and in spite of this increase in the price of BTC, Vays would not be convinced. On the contrary, for the moment, the financial analyst would maintain its position with respect to the market. Saying that the same will have a downward trend until the halving of Bitcoin during the second quarter of the year. Therefore, Vays this increase in the Bitcoin, it would not be the beginning of a bullish rally. Saying that in order to be convinced of this, you need to see this trend to continue for at least 2 to 3 days. Only at that point, you might consider that the uptrend has won the battle within the market. This analysis coincides with the position typically assumed by Vays regarding the market of Bitcoin. Preferring to be cautious in predicting big increases, which led him to consider even a drop below the $ 6,000 to start the year 2020. However, the record of Vays making predictions that have turned out to be correct in the crypto market. Leads us to pay attention to the view of this analyst. Which recommended caution, which is never more within the financial markets. By doing this, our Data of the Day here in CriptoTendencia. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.

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