Experienced crypto trader and analyst Tone Vays is predicting that Bitcoin (BTC) will hit a six-figure price in 2023.
In a Kitco News interview, the veteran crypto trader says that Bitcoin’s next halving cycle will trigger a bull run next year.
Vays says that he will be “surprised” if the flagship digital asset doesn’t reach six-figure prices in the coming months.
“I do expect us to have a nice bull market next year because of the halving that’s coming up…
The halving will probably be a little bit sooner, people always underestimate it. Probably closer to March or April of 2024. But the hype that the halving is coming will come a lot earlier.
So I am expecting us to have the full bull run which may even be complete before the halving because it could exhaust itself.
So I would be surprised if we’re not approaching that $100,000 sometime next year.”
According to Vays, there’s likely to be a reversal in the crypto market downtrend as the sentiment is currently lopsided.
“So many people are expecting more of a crypto winter. And whenever too many people are on one side of the market, it reverses. And right now I see very pessimistic sentiment…”
On the macro front, the veteran crypto trader and analyst says that digital assets might be beneficiaries of speculative money flowing into them amid the possibility of traditional assets such as bonds and real estate collapsing heightening.
“I believe there is going to be a big collapse in the bond market. There may even be a collapse in the real estate market.
But I do think that there will be a lot of speculative money flowing into the equities market and into the crypto markets.”
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The post Bitcoin Gearing Up for 400% Rally, According to Crypto Analyst Tone Vays – Here’s His Timeline appeared first on The Daily Hodl.
