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Bitcoin

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 <p>Veteran crypto trader Tone Vays is predicting that Bitcoin’s (BTC) latest rally will end before reaching a key level.</p>
 <p>In a new strategy session, Vays tells his 122,000 YouTube subscribers that despite BTC’s 10% surge this week, he does not believe the king crypto will hit the $32,000 level.</p>
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 <p><em>“Let’s not go crazy here. I still think there’ll be a pullback sometime in November. I don’t think this is rallying to $32,000.” </em></p>
 <figure id="attachment_2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp80" aria-describedby="caption-attachment-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp80" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp80 size-full" src="https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp" alt="" width="2697" height="1162" srcset="https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 2697w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=300,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 300w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=768,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 768w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=1024,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 1024w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=1536,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 1536w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=2048,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 2048w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=750,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 750w, https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp?resize=1140,https://cdn.thebittimes.com/images/2023/10/21/e1333a791d1a07891d1102bf1b9bf027.webp 1140w" sizes="(max-width: 2697px) 100vw, 2697px">
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   Source: Tone Vays/YouTube
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 <p>Looking at the trader’s chart, Vays seems to predict that Bitcoin will fall to around $28,000 before taking out the top of the range at $31,000 and rallying above $34,000.</p>
 <p>Bitcoin is trading for $29,573 at time of writing.</p>
 <p>Next, the trader warns that Ethereum (ETH) is forming a double-bottom pattern against Bitcoin (ETH/BTC). While the double-bottom pattern is typically seen as a bullish formation, Vays believes that the pattern’s support will not hold for ETH/BTC, setting up the pair for more downside price action.</p>
 <p><em>“Ethereum is making new lows against Bitcoin. This is not surprising. Ethereum is in a very critical support area… </em></p>
 <p><em>On a monthly scale, Ethereum still has significantly more downside. This is a very nasty double bottom. This is very bad for Ethereum. This sets up Ethereum to go significantly lower.”</em></p>
 <figure id="attachment_2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp79" aria-describedby="caption-attachment-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp79" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp79 size-full" src="https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp" alt="" width="2284" height="1268" srcset="https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 2284w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=300,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 300w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=768,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 768w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=1024,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 1024w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=1536,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 1536w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=2048,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 2048w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=750,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 750w, https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp?resize=1140,https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp 1140w" sizes="(max-width: 2284px) 100vw, 2284px">
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   Source: Tone Vays/YouTube
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 <p>ETH/BTC is trading for 0.0543 BTC ($1,608) at time of writing.</p>
 <p>Lastly, the trader predicts that the peer-to-peer payments network Litecoin (LTC) will continue its decline against Bitcoin (LTC/BTC) based on historical price patterns after LTC halving events.</p>
 <p><em>“Litecoin is on its way to an 80% destruction. I’ve made this very clear many times. Every time Litecoin halves, the price of Litecoin goes down 80%. This happened after the Litecoin halving in 2015, after the Litecoin halving in 2019, and [likely] after the Litecoin halving in 2023… </em></p>
 <p><em>We’re down 30%. We need to go 80%.”</em></p>
 <figure id="attachment_2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp77" aria-describedby="caption-attachment-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp77" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" loading="lazy" class="wp-image-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp77 size-full" src="https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp" alt="" width="2294" height="1351" srcset="https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 2294w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=300,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 300w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=768,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 768w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=1024,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 1024w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=1536,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 1536w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=2048,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 2048w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=750,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 750w, https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp?resize=1140,https://cdn.thebittimes.com/images/2023/10/21/6e93bcbcfe95fd0e443d9745ad606433.webp 1140w" sizes="(max-width: 2294px) 100vw, 2294px">
  <figcaption id="caption-attachment-2https://cdn.thebittimes.com/images/2023/10/21/7b36fe78f2793a6a321bb190ac12fd37.webp77" class="wp-caption-text">
   Source: Tone Vays/YouTube
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 <p>Looking at his chart, the trader seems to believe that against Bitcoin, Litecoin will decline to 0.000570 BTC ($16.83).</p>
 <p>LTC/BTC is trading for 0.00214 BTC ($63.64) at time of writing.</p>
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 <p><span style="color: #ffffff;">I </span></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-tone-vays-issues-bitcoin-alert-warns-traders-not-to-go-crazy-as-btc-soars-by-10-this-week-tbt67241.html">https://thebittimes.com/crypto-analyst-tone-vays-issues-bitcoin-alert-warns-traders-not-to-go-crazy-as-btc-soars-by-10-this-week-tbt67241.html</a></p>

Crypto Analyst Tone Vays Issues Bitcoin Alert, Warns Traders Not To ‘Go Crazy’ As BTC Soars by 10% This Week

TheBitTimes

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