A popular trader, Tone Vays, predicted yesterday that the price of Bitcoin will soon fall below USD 7000, adding that the coming years will be the best time to buy BTC. The rate has fallen around USD 6900 earlier today.
A fall in BTC rate below USD 7000 is a great shopping opportunity, says Tone Vays
Trader wrote that the USD 7000 support level is going to break down in the nearest future, resulting in BTC falling below an important psychological limit. According to him, it will be the best opportunity to buy the "model" cryptocurrency that investors have seen so far. "Buy the Dip", i.e. buying more digital coins while the exchange rate is down, to be more specific.
Shortly after Vays' forecast, Bitcoin's rate began to fall. As the trader predicted, BTC failed to maintain the level above USD 7000, reaching the December minimum and returning to the price from the end of November. Currently, after a dynamic fall of 3.1% yesterday in a few hours, the most popular cryptocurrency' value remains around USD 6,700.
Is it time for Christmas shopping? As Vays believes, yes. The others, on the other hand, are impatiently waiting for further falls, even to 5000 USD.
It is worth highlighting that Vays' forecasts are as often accurate as they are not. For instance, at the end of October the trader predicted that Bitcoin would soon fall to USD 7000. It later turned out that he was completely wrong because just a few days later, with a price above USD 10,000, BTC recorded one of the highest increases in its entire history.
Currently, Bitcoin costs USD 6,669, which is a 3.19% fall in the last 24 hours. BTC has not been so cheap in three weeks. The analysts claim that overcoming an important psychological level of USD 7000 opens a straight path to further falls to around the half-yearly minimum of USD 6,600.