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Veteran crypto trader Tone Vays says Bitcoin (BTC) should finish its recent correction relatively soon before going on a sharp rally to six figures.
âA $40,000 low coming in either next week or it could get dragged out⊠into early October, and then we break this area of $50,000 in mid- to late October.Â
We break $65,000 by early November, and then weâre probably hovering above $100,000 by end of December. So Iâm still holding to my view that we break $100,000 in December.â
In other trending Bitcoin News today: Cathie Wood predicts Bitcoin will surge to $500,000 in 5 years â and says Ark Investâs confidence in Ethereum has shot up dramatically.
Ark Invest CEO Cathie Wood expects bitcoin to soar to $500,000 in five years, and her firmâs conviction in ether has strengthened tremendously, the star stock-picker said in a new interview with CNBC on Monday.
âOur confidence in ether has gone up dramatically as weâve seen the beginning of this transition â from proof of work to proof of stake,â Wood said. âWeâd still probably do 60% bitcoin, 40% Ether.â
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
https://cointelegraph.com/news/fidelity-lobbies-sec-to-approve-bitcoin-etf-in-private-meeting
https://cointelegraph.com/news/are-strong-technicals-enough-to-bring-bitcoin-price-to-100k-in-2021
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Navigating the Storm: Bitcoin Faces Prospect of Consolidation until 2022 Amid Mass Wipeout
In a sudden turn of events, the cryptocurrency market is grappling with a mass wipeout that has sent Bitcoin’s price tumbling to $41,000, leaving investors and enthusiasts on edge. The latest speculation suggests that Bitcoin could undergo a period of consolidation, extending into 2022, as the market attempts to find stability after the recent wipeout.
The article at the center of this discussion sheds light on the challenges faced by Bitcoin as it experiences a significant price correction. The term “consolidation” suggests a period of relative stability, wherein the cryptocurrency may trade within a certain range as market forces seek equilibrium.
The mass wipeout has caught the attention of the crypto community, prompting questions about the factors that led to this abrupt downturn. External factors such as regulatory developments, macroeconomic trends, and market sentiment often play a role in shaping Bitcoin’s price movements, contributing to moments of volatility.
For investors, the prospect of Bitcoin consolidating until 2022 introduces a period of uncertainty. Such phases can test the resilience of the market and the resolve of those engaged in the crypto space. The key question becomes: What factors will determine Bitcoin’s trajectory during this consolidation period, and what should investors keep in mind as they navigate these stormy waters?
While market analysts may provide insights into potential catalysts and outcomes, it’s essential for investors to approach predictions with caution. The cryptocurrency landscape is dynamic, and unforeseen events can impact the trajectory of digital assets. Staying informed, diversifying portfolios, and exercising risk management are critical strategies for weathering market turbulence.
As Bitcoin faces the possibility of consolidation until 2022, it’s important to recognize that such periods are not uncommon in the volatile world of cryptocurrencies. Past market cycles have demonstrated the resilience of digital assets, with periods of consolidation often preceding renewed momentum.
Whether this period of consolidation serves as a necessary recalibration for Bitcoin or marks a more prolonged phase of uncertainty remains to be seen. As the crypto community watches and waits, the coming months will likely provide more clarity on the trajectory of Bitcoin and the broader cryptocurrency market.
In the grand narrative of Bitcoin’s journey, periods of volatility and consolidation are but chapters in the ever-evolving story of digital currencies. As the year unfolds, market participants will continue to adapt, learn, and position themselves strategically in response to the shifting dynamics of the cryptocurrency landscape.
