Bitcoin is thriving again in the market, taking steps to the top one at a time. The usual price movement of BTC could deter anyone from believing that the digital currency is set for a consistent parabolic movement.
As Bitcoin’s subsequent price growth is awaited, a controversial crypto analyst and trader, Tone Vays has specifically stated that the price of the digital currency would drop down to $7,000 by October 5th.
Bitcoin, the largest digital currency by market capitalisation had few days ago maintained a notable price plummet, which earlier brought it below $10,000 support level.
In the course of this price drop, it was envisaged that BTC could be on the verge to nosedive to $8,600 price region.
However, Bitcoin seems to have regained its agility to embark on a fresh price trend to the top. Actually, this present resurgence cannot be trusted yet, due to the price reactions exhibited by BTC lately.
The Hope of seeing Bitcoin’s new yearly price highs may appear to be alive in the mist of cryptocurrency pundits. Howbeit, the recent inconsistency of BTC’s price growth has actually initiated doubts in the hearts of many crypto traders and investors, as some analysts believe that the digital currency would fail to attain its price all-time high of $20,000 this year.
Bitcoin is now trading around $10,700 resistance level. Crypto market is now packed with green signals that indicate 24H price gains. All top 10 cryptocurrencies are presently replicating the present price uptrend led by BTC.
At the time of writing, Bitcoin is trading at $10,723.60, with relatively 3% price uptrend in the last 24 hours. Could BTC follow this recent trend consistently? Time will tell.
Tone Vays Specifies that Bitcoin Price Would Drop Down to $7,000 by October 5th 2019
Tone Vays is a popular cryptocurrency analyst and trader, well-known with his controversial predictions. He once taunted XRP, attributing Ripple, the blockchain Tech as culprit behind the consistent loss of value of the digital asset.
His recent specification played out after a co-analyst identified on twitter as Rolf pointed that Bitcoin has clear chance of retesting $11,600, as much as dropping below $10,000 support level. While quoting Tone Vays’ previous price prediction, he said BTC would drop down to $7,000 level by October 1st, 2019.
Rolf said “BTC/USD has room to go up to 11.6K, go down to 10K, back up a bit and probably back down to $7K around October 1st. @ToneVays wasn’t October 1st an interesting date for #Bitcoin?”
To corroborate his statement, Tone Vays specifically pointed that Bitcoin would really drop down to $7,000 price region by 5th October, 2019.
In conclusion, analysts predict whatever they understand about BTC price movement, but the digital currency has several times defiled the claim and understanding of experienced analysts by proving unpredictable.