NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Bitcoin Surpasses $100 Billion, Yet Former Wall Streeter Still Isn’t Bullish

Rick Delafont
Rick Delafont
4 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

After an April that renewed the hope of many for Bitcoin’s future, the number one digital asset has started May strong too. The entire market capitalisation of Bitcoin alone today surpassed the psychological milestone of $100 billion for the first time since last November.

The increased buying has been cause for celebration amongst much of the Bitcoin community, and calls that the bottom of the bear market is well and truly in are growing louder. However, one divisive YouTuber and former Wall Street trader still holds the position that lower prices could be on the horizon.

The Bitcoin Bear: An Increasingly Endangered Species

YouTube technical analyst and former Wall Street trader Tone Vays has just released a new segment of his not-quite-daily Trading Bitcoin YouTube show. The analyst is well-known in the Bitcoin community for his refusal to get wrapped up in news events and developments in the crypto space when discussing price. He has been consistently calling for a lower bottom than the December price of around $3,200, commonly held to be the bottom of the last/current bear market.

Vays goes strictly by the charts and in his latest episode, broadcast from a Mexican airport, he discusses the recent Bitcoin price surge to above $5,800. From analysis of monthly, weekly, daily, 12-hour, and 4-hour charts, the analyst reiterated the conclusion made in his previous video that the bottom is only about 40 percent likely to be in. He did, however, admit that the likelihood of the price not dropping below $3,200 seems to increase daily too.

Today, he stated:

“I have not seen anything yet that tells me that the low is in… I will wait for the perfect trade.”

From closer analysis of the charts, Vays speculates that the price is likely to go up from here but not by much. He states that Bitcoin price is likely to bounce off resistance in the $6,000 to $6,200 range. It will then likely head back down to around $4,000 or perhaps lower. Vays does remind viewers that reevaluations must be constantly made in order to trade successfully and that a crucial time to pay attention will be as the price gets close to $6,000.

You’re Not Alone, Tone!

Vays’s mid-term pessimism continues to stand at odds with most of the Bitcoin community. Tweets expressing immense bullishness have returned to CryptoTwitter in recent weeks.

I will give you some buzzwords now, which should make you bullish. Inhale the hopium, exhale slowly.

– Bitcoin
– Halving 2020
– Digital Gold
– Store of value
– Bakkt (lol)
– 1 BTC = $1M by EOY

— Blackbeard (@blackbeardXBT) May 3, 2019

Major bullish.

Bitcoin is breaking the 52 (yearly) moving average + parabolic move

Target 8700#ltc #litecoin #bitcoin #btc @MustStopMurad @CryptoCrewU @TheCryptoDog @davthewave @filbfilb @APompliano @PeterLBrandt

Thanks to peter and Murad for spotting it today pic.twitter.com/0XXE2d6XDQ

— master Ⓜ️🕸 (@MASTERBTCLTC) May 3, 2019

A recent report by crypto investment analysis firm Delphi Digital, also provides evidence to suggest that the market bottomed in December 2018. The company bases its analysis on the number of wallets that appear to be holding Bitcoin long-term returning to their 2015 bottom levels, indicating that those that were prepared to sell have now done so.

However, Vays is not quite alone in his belief that more blood needs be shed prior to the market resuming a consistent upwards trend.

Lucid Investments’s Tyler Jenks firmly believes that we will see a $1,000 Bitcoin before a $10,000 one. Although he hasn’t posted about price since the very latest upswing, the veteran trader believes that the Bitcoin price must return down to the trend line it was following prior to the mania of 2017. He recently Tweeted:

OK. I have not changed my mind that the final bottom for Bitcoin will be $1,000 or lower with almost certainty(99%). I only have 80% confidence that $3180 was THE bottom (the question asked) because we could hit a series of lower lows that than run up before heading lower.

— Tyler Jenks (@LucidInvestment) April 22, 2019

Similarly, Vinny Lingham, the South African crypto entrepreneur and Civic (CVC) CEO, believes that we are likely to see more downside. Like Tone, he thinks the $6,200 area will provide too great resistance to overcome. He also muses on the necessity for the crypto market to decouple from Bitcoin before real bullish momentum can begin again. He does believe of Bitcoin blows past $6,200, we could be off to the races, however.

Like I’ve been saying…Winter isn’t over until we clear $6200… https://t.co/LqXT7P0xuE

— Vinny Lingham (@VinnyLingham) April 30, 2019

 

Related Reading: Is The Bottom In? Bitcoin Price (BTC) Has Nearly Doubled Since Bear Market Low

Featured Image from Shutterstock.
Tweet123Share235ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Metaplanet Snaps Up 5,419 BTC, Becomes 5th Largest Corporate Holder

Metaplanet, a Japanese public company, bought 5,419 Bitcoin in a single purchase and climbed into the ranks of the world’s...

Christian Encila 3 hours ago
XRP

Analyst Predicts XRP Price Will Definitely Reach $10,000, Gives Reasons Why

Crypto analyst Xena has declared that the XRP price will definitely reach $10,000. The analyst further gave reasons why she...

Scott Matherson 4 hours ago
Bitcoin

Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

The cryptocurrency market began the week with a notable downturn, as total sector capitalization dipped toward $3.8 trillion. Bitcoin (BTC),...

Ronaldo Marquez 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto news

Crypto Bloodbath Shakes Market—But Is The Real Storm Still To Come?

Jake Simmons 26 minutes ago
Bitcoin

Bitcoin Falls Below $113,000, But This Indicator Says It’s Time To Buy

Keshav Verma 1 hour ago
Dogecoin

Dogecoin Remains In The Green As This Historic Indicator Still Points To Gains

Godspower Owie 2 hours ago

Premium Sponsors

Press Releases

  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    6 hours ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    6 hours ago
  • 5 monet, które mogą osiągnąć 10 miliardów dolarów w bańce kryptowalutowej w 2025 roku

    5 monet, które mogą osiągnąć 10 miliardów dolarów w...

    6 hours ago
  • 5 монети, които биха могли да...

    7 hours ago
  • Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti tržišnu vrijednost od 10 milijardi dolara

    Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti...

    9 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.