Since Bitcoin reached its all-time high of $69,000 in November 2021, the currency has been declining. However, now, the speculations around the currency reaching the bottom and starting a bull run are emerging.
At the moment, Bitcoin is selling at $19,157 with a fall of 0.35% over the last 24hrs. As bear action continues, the immediate resistance lies at $19,200 and the support at $19,000.
Meanwhile, a renowned crypto strategist and trader, Tone Vays, claims a massive bullish stance towards Bitcoin after its price action.
Bitcoin Price At $100k?
Tone Vays predicts that Bitcoin will see a whooping bull run during its next halving, scheduled for 2024. He also portrays immense confidence in his prediction.
Vays then says that Bitcoin halving might occur a bit early which will be by March or April of 2024. However, he believes that the halving hype will occur much earlier, maybe next year, 2023. Hence, the analyst expects Bitcoin to see its massive bull run during the time of this hype. Tone Vays expects Bitcoin to reach $100,000 in 2023.
As per the strategist, crypto market’s current bearish pullback will see a reversal while the market sentiment indicates uncertainty. This is because he feels that whenever too many people lean towards one side, the market reverses.
Before the veteran trader wraps up his discussion, he says that with an increase in the turbulent macroeconomic events, bonds and real estate are losing demand. Hence, he adds that there are many possibilities for digital assets to experience an increase in investments.
However, crypto traders and investors should make a research-based decision before investing in any digital currencies.