Bitcoin

<p>The post <a href="https://coinpedia.org/news/bearish-cloud-hover-over-btc-as-analyst-tone-vays-call-for-huge-price-correction/">Bearish Cloud Hover Over BTC, As Analyst Tone Vays Call For Huge Price Correction</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Renowned crypto analyst Tone Vays is issuing a cautionary warning, suggesting that Bitcoin (BTC) may be on the brink of a more significant market correction, despite its robust performance last week.</p> 
<h2 class="wp-block-heading" id="h-btc-price-correction">BTC Price Correction</h2> 
<p>In a recent YouTube video, trader Tone Vays <a href="https://www.youtube.com/watch?v=hcmkhMk8X4I">expressed concerns</a> about a potential dip in Bitcoin’s value, projecting a descent into the mid-$30,000 range if it fails to reclaim a critical level.</p> 
<p>Vays emphasized the signs pointing to a more substantial correction, stating, “All signs are pointing to a much, much bigger correction. I hope this doesn’t happen. I really hope we go up from here.” The analyst highlighted the <a href="https://coinpedia.org/news/bitcoin-price-lingers-below-50k-despite-etf-approval-max-keiser-unveils-the-factors/">need for Bitcoin</a> to break above specific moving averages, setting a benchmark at $44,000 for a bullish stance or a descent to $36,000 for a potential buying opportunity.</p> 
<p>While acknowledging the possibility of an interim level around $39,000, Vays stressed the importance of a decisive move either above the $44,000 moving average or down to $36,000, where crucial support factors converge.</p> 
<h2 class="wp-block-heading" id="h-pre-halving-dump-speculation">Pre-halving Dump Speculation</h2> 
<p>Addressing the speculation about a pre-halving dump, Vays dismissed the notion, stating, “Do I think the pre-halving dump has started? No, I wasn’t anticipating the pre-halving dump.” Vays indicated that historically, such events occur closer to the halving, which is not expected until April.</p> 
<p>Vays expressed confidence that Bitcoin is unlikely to revisit the $20,000 range, considering $30,000 as the absolute bottom, contingent upon unforeseen catastrophic events. He underscored that such drastic scenarios would be necessary for Bitcoin to reach $30,000.</p> 
<p>As of now, Bitcoin is <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*1k2ktiq*_ga*MTQ5MzAxMjcwMi4xNzA1MTY1NDcw*_ga_RE1GG3FGQW*MTcwNTQ2NTY0Mi41LjEuMTcwNTQ5MzUyOS42MC4wLjA.">trading at $42,622</a>, reflecting a nearly 0.56% decrease in the last 24 hours as reported by Coinpedia News.</p> 
<p>As the crypto community watches for potential market shifts, Vays’ insights add to the ongoing discussions about Bitcoin’s trajectory and the possibility of a notable correction in the near future.</p>

Bearish Cloud Hover Over BTC, As Analyst Tone Vays Call For Huge Price Correction

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