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Veteran Crypto Trader Tone Vays Says Bitcoin (BTC) Is Priming for a Major Move 

Tone Vays, a seasoned cryptocurrency analyst, predicts that Bitcoin (BTC) will likely experience an adverse move before a bullish cycle can be confirmed.

Vays tells his 123,000 YouTube subscribers that Bitcoin is likely to fall by more than 13% from its current price before a meaningful rally can occur.

“I still believe there is a good chance of one more capitulation, down into the sub-$15,000 range.”

At the time of writing, Bitcoin is worth $17,154.

The veteran crypto trader says his short-term bearish sentiment stems from the belief that Bitcoin stayed in a range for too long after plunging to two-year lows in November, which he notes is unusual behavior when an asset’s price has bottomed out.

“The main reason I believe that is because we spent far too much time at $16,000 lows.”

The way markets usually bottom is that you only have a few hours to buy the perfect low. You don’t have a week to consider buying the perfect low.

You either have a limited amount of time to purchase the perfect low, or it spends so much time at the perfect low that people do not believe it is low. This is why I am still concerned about another capitulation.”

According to Vays, Bitcoin entry opportunities will emerge once the flagship crypto asset capitulates or confirms a rally.

“Either we crash below $15,000, which would be a fantastic buy-the-dip opportunity. “Alternatively, you can wait and buy the breakout above $21,500.”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.