RATE Group | Bitcoin Bottomed in ‘Final Capitulation’ but $5K Dip Likely: Tone Vays
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Bitcoin Bottomed in ‘Final Capitulation’ but $5K Dip Likely: Tone Vays

13 Mar Bitcoin Bottomed in ‘Final Capitulation’ but $5K Dip Likely: Tone Vays

Posted at 15:21h in Bitcoin News by

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Bitcoin (BTC) likely bottomed when it hit $3,700 this week but will likely dive below $5,000 one more time, says Tone Vays.

In the latest edition of his Trading Bitcoin YouTube series on March 13, the veteran trader described the week of mayhem for Bitcoin which culminated in 60% daily losses as the capitulation he’s been waiting for.

Vays: “All signs point to final capitulation”

Introducing the episode on Twitter, he summarized:

“All Signs Point to this being the final capitulation of the 2 year Bear Market.”

Traditionally conservative about Bitcoin price action, Vays sounded the alarm about potential weakness in BTC/USD in January, warning that there was room for losses below the roughly $10,000 levels seen at the time.

Continuing that line of thought, Vays argued that despite traders’ nightmare week, Friday’s rebound for Bitcoin would not be the final bearish chapter.

“As crazy as it is for me to say, I don’t think there’s been enough pain; I don’t think…

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