Cryptocurrency analyst and trader Tone Vays is detailing the long-term bull case for Bitcoin (BTC) after the flagship digital asset reached two-year lows triggered by FTX founder and crypto outcast Sam Bankman-Fried.
In a new video, Vays tells his 123,000 YouTube subscribers that even if Bitcoin falls to around $11,000, the largest crypto asset by market cap could still reach a new all-time high of $100,000 next year.
The veteran crypto trader believes that his predicted Bitcoin collapse will likely attract buyers who plan to hold BTC for the long haul.
“We can have a capitulation down to $11,000 and still hit $100,000 next year. Because a lot of Bitcoin is about to go into cold storage because people can buy it on the cheap.”