Renowned trader Tone Vays does not expect Bitcoin to fall to the $10,000 level. However, if that were to happen, there is a high likelihood of further price declines, he said in a live stream on ForkLog’s YouTube channel.
Vays believes the price of Bitcoin will continue to rise to $14,000-$14,500. After this it could retreat to $12,000 before resuming its ascent.
“There will be a big problem if the price falls to $10,000 — we will probably go even lower. But I think $10,000 will no longer be seen,” he noted.
The trader expects that in the long run Bitcoin’s growth will continue, but it will not be as sharp as in 2017.
Tone Vays shared his thoughts on the upcoming US elections. He believes it doesn’t matter who wins the presidential race.
He has far greater concerns about the amount of dollars printed this year and increasing scrutiny of the movement of funds.
“Bitcoin is a big problem for the government. When people can transfer billions of dollars and the authorities do not know who is doing it, that is a very big problem for them,” emphasised Tone Vays.
One of the risks associated with the addition of PayPal’s support for bitcoin, he says, is the possibility for authorities to track users’ accounts:
“If I have dollars or bitcoins in PayPal, and the government does not like what I am doing, they can call the company and freeze my account.”
The trader also sees no innovation in central bank digital currencies:
“I have never seen a difference [from existing national currencies]. They are the same currencies, just with different names.”
Earlier Tone Vays stated that all DeFi projects are nothing more than Ponzi schemes.
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