Bitcoin is expected to resume its ascent, reach an all-time high, and then undergo a substantial decline, according to the well-known trader Tone Vays.
MRI has once again perfectly timed the #Bitcoin Top a few hours ago… Looking for a 1-4 day correction then a push above $70k in line with the Weekly MRI.https://t.co/MCO3TG4UIX pic.twitter.com/J9xD1KuSg0
— Tone Vays (#EndLockdowns) (@ToneVays) March 14, 2021
According to the expert, the MRI indicator confirms the end of Bitcoin’s short-term correction.
Vays forecasted Bitcoin’s price above $70,000 in the coming weeks. Investors would then start taking profits, leading to a substantial drop in the asset’s price, he added.
Back in December, Vays predicted Bitcoin would rise to $300,000 in 2021. He also described the near-term forecast for Bitcoin to reach $100,000 as ‘too conservative’.
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