Bitcoin is falling rapidly, and the nightmares of 2018 seem to be coming back again. While the apex crypto was priced at about $13,800 in the last week of July, it has steadily come down to less than $6,800 as of date. This is despite several crypto proponents and experts claiming that Bitcoin will reach $40,000 to $100,000 by the end of 2019. All these claims have fallen flat on their noses, as BTC has failed to revive itself after a short bull run.
Interestingly, one of the renowned crypto experts, Tone Vays, has stated that BTC will come down to $4,500 soon. He tweeted that he, along with Ran Neuner, had made a similar claim six months ago at Consensus 2019, when the price was climbing up. Now, when it is coming down, Vays has come up with a similar price prediction.
6 Months ago at #Consensus2019, @cryptomanran & I bet on #Bitcoin pulling back to $4,500. Price of $BTC was about the same but trending up, now it's trending down.
I'm just as confident today as I was then, 6 months to go!
Full Video (comments are funny): https://t.co/z1STRhnp4e pic.twitter.com/GSosMyP3NW
— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) November 24, 2019
This prediction is in stark contrast with others like Max Keiser of Heisenberg Capital, Cardano founder Charles Hoskinson, analyst Roger Quantrillo, and similar others, who have consistently maintained a $100k price prediction in the coming 12-15 months. History has shown us that Bitcoin can reach unimaginable prices and create gigantic stirs in the financial world. However, things like the bull run in the second half of 2017 cannot be planned or predicted. What mortal beings can do is to make the most rational analysis and give out info on its basis.
The current situation in the crypto space is far from encouraging; no one can tell how much time it will take to recover and match the peak of 2017, let alone reaching $100K. When BTC broke its six months-long losing spree in February earlier this year, stakeholders of the industry began claiming big and making bold statements. However, the joy lasted merely for the short term, and since the beginning of August, the price has steadily come down to less than half of what it was in this year’s peak.
At such contradicting and confusing times, Tone Vays’ statement comes as a reality check for industry proponents and investors. Analysts, stakeholders, and investors seriously need to reassess their statements before making bold predictions. Bitcoin will grow, not denying the fact. The question is when and at what pace.