For some time now, experts have been predicting a brighter future for Bitcoin. This is the case of Tone Vays, who thinks that BTC will hit six digit value by the end of 2023. If the attitude around the crypto is still pessimistic, the trend is starting to reverse and different opinions. Bitcoin is no longer as controversial as it once was. Its recent drop below $20,000 suggests there may be upside in this bear market.
However, it is still difficult to predict precisely, the behavior of investors for the next year. Especially since the trend is in favor of ecological cryptos. Ethereum is another very serious competitor to Bitcoin, which stands out for its merger The Merge and its EIP-1559 hard fork. But let’s take a closer look at what Tone Vays has to say.
Seasoned crypto analyst Tone Vays recommends BTC
Tone Vays is a prominent and followed crypto analyst and consultant. Coming from a financial background, he is very active on social networks. A channel He has 123,000 subscribers on Youtube and more than 280,000 followers follow his Twitter account.. Tone Vays also works with cryptocurrency organizations to help them on their way. In short, his words carry a certain weight, and it is not insignificant to hear him say that Bitcoin could approach $100,000 within a year! During an interview on Kitco News, he says:
I will be surprised if we don’t approach $100,000 next year… I think there will be a lot of speculative currency pouring into the crypto market.
If you want to watch his intervention in its entirety, check out the tweet below which will take you to the Tone Vays interview on the Kitco News Youtube channel. The video is in English!
Bitcoin price to reach $100K in 2023, ‘Everybody will stop laughing at El Salvador’ – Tone Vays https://t.co/GTfVRvadW2
—Kitco Crypto (@KitcoCrypto) October 18, 2022
Multiple reasons for the upcoming Bitcoin X4
To support his statements, Tone Vays multiplied the reasons why Bitcoin could bring such a high value:
- The analyst claimed that money flowing from Europe to the United States could fuel the rise of Bitcoin.
- At the same time, he thinks that the fear of missing out (FOMO) may drive investors to invest in BTC.
- Tone Vays also noted this desire on the part of many people to relive the golden era of Bitcoin when it was around 10,000 dollars. If bitcoin were to be seen getting very close to its old rates it could explode again.
- The potential real estate slump could push investors into so-called “safe haven” stocks, some of which consider Bitcoin to be one of them.
If you think that the crypto market will rise again, you can invest in Bitcoin and other cryptos. Keep in mind, however, that this review is only for Tone Vays-analyses. If you want to learn more about new and exciting developments in the crypto market, click here.
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Bitcoin is a one-of-a-kind asset, says Tone Vays
For his part, there is no doubt that Bitcoin is a crypto like any other. He considers the latter “resistant to censorship”. This is the first currency that has a decentralized system, and for him, this simple fact should give him a lot of spin in the future. Vays thinks that the recent events regarding the freezing of assets of some Russians in Canada by Trudeau will encourage the adoption of Bitcoin around the world. With Bitcoin, it is impossible to confiscate an individual’s funds, and this will make the strong signal for the coming year.
Tone Vays predicts a floor price of Bitcoin at $14,000
Tone Vays predicted that Bitcoin will bottom out at $14,000 before rising to new heights. He believes that price predictions on Bitcoin are quite difficult due to its “illiquidity”. According to him, there are no real indicators to predict how far Bitcoin can fall as you can in traditional markets. But his strategy is clear, when Bitcoin reaches $14,000, Tone Vays intends to liquidate his portfolio in anticipation of future profits.
But for now, the signal has stabilized around $19,000. We will have to wait a little longer to see if the resistance levels will be sufficient to support this level.
Bitcoin price in dollars for the last 3 months, with current price as of October 20, 2022 – Source: CoinMarketCap
Is Bitcoin really set for a new bull run in 2023?
Currently, the price forecast outlook is still uncertain. The market is in full swing and no one knows if it will tend to reverse soon. If the market could see a clear improvement in 2023, the forecasts seem to be more consistent for the year 2024. Because when we talk about Bitcoin, all of you have in mind that its supply is limited to 21 million tokens, which by the way is harder and harder for me. The next BTC half event is scheduled for this date. In any case, this is what Yves Lamoureux predicted, one of the main crypto experts in terms of the bull run. At that point, the Bitcoin miner’s reward will need to be halved.
For Lamoureux, the Bitcoin crash is partly linked to that of Terra. For him, it is risky to invest in other less important cryptos in this bear market period. In this regard, he says:
I’m interested in bitcoin because it’s king and that’s where institutional money will flow first. Always stick to the best. Everyone claims that they are bitcoin, but they are not … Don’t make it complicated, stick to bitcoin.
But after all that, he advises investors not to do “everything” on Bitcoin. The best strategy to adopt is still to build your Bitcoin portfolio little by little. The latter emphasizes, once again, the importance of investing only what you can afford to lose. Finally, social dominance is still negative when it comes to BTC. But many experts agree that this could be the end of an inglorious era for the crypto flagship. If you want to learn more about the bullish signals that are fueling Bitcoin, go to our page about it.
