Why whenever I think of crypto bears, Tone Vays comes to my mind? It's because ever since I heard about this guy he's been bearish on the price of Bitcoin. I don't remember an instance where his name was mentioned on a bullish note.
Again, we're talking about a bearish case for Bitcoin, as it seems to be walking on highly thin ice lately, threatening to break that $30,000 psychological level that everybody is watching at. $20,000 is probably the price where many investors will rush to load their bags. I doubt it will get there, but my gut feeling tells we're gonna have a shake out under $30,000 before we see new ATHs.
Something like what happened back in September 2017 with the China ban.
I’ve pretty much been somewhat bearish most of this triangle, and I remain so right now. That’s because I still think that a capitulation day is coming. This capitulation day is coming soon because I also believe that the price of Bitcoin will bounce this summer and be on the way back up, breaking the all-time high later this year. A lot of that has to do with the current bull cycle of Bitcoin, plus some fundamentals. I still think a 20% correction is coming. It doesn’t have to happen, but I think it will happen. After that, it should start to rise, even though the overall picture looks horrible, just absolutely horrible. I believe in the fundamentals.”
-Tone Vays source
As much as I'd like for the market to go up once again, I doubt it will do that short term. Volume is low, not much buzz around crypto mass adoption around and there is still a bit of power left for the bears. You know me, I'm no TA analyst, but I like sharing my take on where I think the market could head next and I believe we will have a final shakeout rather sooner than later, before new ATHs.
I am convinced that BTC won't spend too much time under $30,000 and it probably won't even get to $20,000, but I see such a price action as inevitable. Curious to see how HIVE is going to hold the crash, if one will occur, as it has proved lately to be quite strong in holding above $0.2 price levels. Maybe over $1 is in cards for this year after all.
What do you think, Will Bitcoin Break The Thin Ice Of $30k?
Thanks for attention,
Adrian