Trader Tone Vays, in a recent session with his YouTube subscribers, said that he is still biased towards a bullish run in Bitcoin despite the sharp decline in its prices from an all-time of $69,000.
The trader yet believes that Bitcoin has not entered a bear market. To support his argument, Vays gives several reasons to prove that Bitcoin is still in a bullish environment from a fundamental perspective.
El Salvador accepting Bitcoin, Tesla approving crypto as a medium of exchange, and Micro Strategy also opting it are bullish macro signs according to the trader.
Vyas also stated that “in higher timeframe Bitcoin market remains bullish and eventually Bitcoin is going to skyrocket to its new all-time high”. The trader believes that the next upward swing will take the Bitcoin price to $100,000.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investing.
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