The “worst case scenario” for Bitcoin is now $ 7,000: Tone Vays

Wall Street veteran and cryptanalyst Tone Vays, long-term BTC promoter, shared his insight into the current situation on Bitcoin. He says the worst case scenario now is a $ 7,000 drop.

$ 9,000 would be a very good buy

In the latest episode of his Market Pulse series on YouTube, Vays said he was looking for a $ 9,000 BTC bottom. Although previously he said there could be a $ 10,000 retest, which he did, now he is looking for a local bottom a little lower. This scenario envisages a drop to 9,000, where, according to Vays, it should be a very good time to buy Bitcoin.

He says:

“If we fail, I think $ 9,000 is a very good ‘dip purchase.'”

Black scenario

While the scenario of a $ 9,000 drop is most likely for a bitcoin analyst, it does count on others. However, he says that he can adjust his predictions according to how long he can resist the bulls and defend important supports.

Vays states:

“The longer Bitcoin stays above $ 10,000, the more bull Bitinin will be. The consistency on the way up is bullish; Consistency on the way down is bearish.„

And he adds:

“What is my lowest point for the worst case scenario if we fall down? My worst case scenario is $ 7,000. ”

Bullish analysts

Although Vays is now looking for the lowest points and puts his realistic scenario at the level of $ 9,000, it still remains bullish for a long time. Among other things, he says that when Bitcoin reaches again $ 12,000, then „the sky’s the limit” and we can therefore grow virtually indefinitely.

Also other well-known analysts, such as PlanB, remain positive in the long run. PlanB pointed out that the 200-week moving average, which has never been broken as support, sets a maximum drop of $ 6,700. Next month, this level will increase to values ​​corresponding to Vays’ forecast – to $ 7,000.

Conclusion

CME GAP at the level of approx 9 600 USD, which is still in play since July, still not closed. This is due to strong support at about $ 10,000. According to Vays, it is more likely to target $ 9,000 in the short term, with the blackest scenario assuming a fall to $ 7,000 for 1 BTC. Do you agree with Vays, or do you see it differently?

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