Veteran Trader Says Bitcoin ‘Very, Very Clearly’ Choosing Path of Extended Bull Market – Here’s His Outlook – The Daily Hodl

Seasoned trader Tone Vays believes that the recent Bitcoin (BTC) correction is setting up the crypto king for an extended bull cycle.

In a new strategy session, Vays tells his 123,000 YouTube subscribers that Bitcoin’s current consolidation is a signal that BTC is likely following a path that leads to an extended bull market.

In March, Vays predicted that Bitcoin could either witness a parabolic rally to $60,000 this year and top out at $200,000 sometime in 2025 or continue to consolidate for the rest of the year before rallying toward his higher target of $300,000.

According to Vays, Bitcoin is now clearly showing that it wants to go through a prolonged bull market that could propel the crypto king to as high as $300,000.

“We continue to consolidate. It’s continued to be frustrating. I’ve been a Bitcoiner, and it’s very, very clear that Bitcoin is choosing the purple path.

I have two paths for Bitcoin. One was a little more bullish with a lower top ($200,000), and the other was a little more bearish with a higher top ($300,000) a little further down in time.”

As for his near-term outlook on BTC, Vays previously said that Bitcoin will probably rally to $34,000 due to the fact that the halving is less than a year away.

“The probability of a random swing to the upside where we go straight to $34,000 is way higher than a random crash to the downside where we’re hitting $22,000.

Like we’re sitting here at $27,000 so to get to $34,000 that’s $7,000… to go down $5,000.

I think plus $7,000 is a lot more likely than down $5,000 from here. I just think the downside is very limited, very limited.”

At time of writing, Bitcoin is trading for $27,249.

[embedded content]

I 

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines
&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
• Minting the Future w Adryenn Ashley. Access Here.
• Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
• Source: https://dailyhodl.com/2023/05/21/veteran-trader-says-bitcoin-very-very-clearly-choosing-path-of-extended-bull-market-heres-his-outlook/