Vays: Don't wait for a new bottom
A break above $ 6,800, Bitcoin will break out of the possibility of falling to a new low below $ 3,800 – leaving only a 15% chance for that to happen.
“Going above $ 6,800 can give me 85% confidence, it will not fall below this level – and it is almost there, the price has almost broken that level; It is sitting at the resistance, ”he wrote.
“Right now, I believe that there is a 20-25% chance it will drop below $ 3,800.”
At the time of writing, the BTC / USD pair fell below $ 6,500 to hit the intraday low of $ 6,450.
As Toiyeubitcoin previously reported, Vays was once alarmed about the potential collapse of Bitcoin to as low as $ 2,000 before the halving event took place in May.
However, at this time he thought it was foolish not to enter the market in the hope of catching a new bottom.
“That still means you can't wait; you can't wait for another pullback of $ 3,500 – the party should buy Bitcoin now. ”
Fed pumping money “unlimited” will create conditions for BTC to reach $ 100k
Vays made his comments after US lawmakers approved a huge economic stimulus package to protect users and businesses from the coronavirus pandemic. The stimulus package – worth about US $ 6 trillion, was released after the US Federal Reserve started printing “unlimited” money.
For major industry figures, including Binance's CEO Zhao Changpeng, current financial trends show that Bitcoin can even easily reach a market capitalization of over $ 2 trillion.
Dan Held, director of business development at Kraken exchange, writes on Twitter:
“A stimulus package of $ 6,000,000,000,000 for a single country. And don't you believe Bitcoin can reach a market cap of $ 2 trillion? ($ 100k / coin). ”
Readers can update BTC rates and more than 2,000+ cryptocurrencies in real time here.
Maybe you are interested:
Join our channel to stay up to date on the most useful news and knowledge at:
According to CoinTelegraph
Translated by ToiYeuBitcoin
- Shadow Harvest: Phantom Ops – PC Game
- 400 Vip traders answered Kraken's survey predicting Bitcoin price will exceed $ 22K by 2020
- What is Amazon S3? Instructions to connect WordPress to Amazon S3
- Guide to bringing WordPress from localhost to hosting – HOSTVN Blog
- How to automatically close the Safari tab on iPhone