Tone Vays once again makes public his forecasts regarding the price of bitcoin.
This time, during his last YouTube live broadcast, he said that he believes that if the price of bitcoin were to fall further, $9,000 would be a great level to buy.
He also said that the lowest price, in his worst-case scenario at this point, would be $7,000.
However, he believes that the most realistic level of the current bearish trend is precisely $9,000, which is why he points to this level as a good point to buy.
“The longer Bitcoin stays above $10,000, the more bullish Bitcoin is”.
It has to be said, however, that Vays is quite famous for his numerous wrong predictions.
The price of Bitcoin according to Tone Vays
In particular, in June he said he was convinced that the price of bitcoin would fluctuate between $6,000 and $10,000 until next year, while shortly afterwards the price exceeded $10,000, reaching even $12,000.
Previously, in April, he stated that the price could return to a high of $20,000 by the end of 2020, while now he believes it could return to around $12,000.
So during the course of the year, he has already changed his mind a couple of times and failed several predictions.
In a year of great confusion on the financial markets, like this one, it is indeed very difficult to make predictions, especially concerning bitcoin, which remains a very volatile asset.
Moreover, in this specific time of uncertainty, it is even more difficult to accurately imagine the next movements in the short term, hence it should be stressed that those proposed yesterday by Vays are in fact only hypotheses.
It cannot be ruled out that the decline, which has been going on for about 4 days, could actually continue, as Vays hypothesized. His forecast is in line with that of other analysts who say it could go down to between $8,500 and $9,500.
At the moment, for example, there are not many serious predictions that suggest a collapse down to $7,000, whereas Vays’ hypothesis that the more the price remains around $10,000 the more the future is bullish is shared by several other analysts.