According to prominent crypto trader Tone Vays, Bitcoin may be in the middle of a long bull cycle. Vays thinks that Bitcoin could gain more than 5 times its current price.
With 113,000 YouTube subscribers, Vays posted a video about the Bitcoin bull cycle. According to him, this cycle could last longer than the previous one, which technically took 28 months. Believing that the bull market will end in 2022, the trader underlines that it may extend until 2023.
“I would love for this bull market to extend into 2023. I would love for the bull market to be at a quarter of a million dollars or a third of a million dollars in 2023 before it drops 80%.
And it will be a very interesting bear market because (from 2023) the 80% drop will be in the halving, something that has never happened before.”
Vays also adds that many analysts and traders think the current bull market started in late 2018. This cycle, on the other hand, did not take action until March 2020.
Bitcoin suffered a massive drop of around 17% on Tuesday. The asset, which declined to $ 42,000, then managed to rise to the level of $ 47,000. Bitcoin is trading at $ 46,900 at the time of publication.
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