During an IGTV interview, Vays said:

“Every time Bitcoin breaks an all-time high, especially if it takes years to break that rally at all, it usually more than doubles. So I think $ 45,000 to $ 50,000 is a reasonable target.”

Bitcoin price can rise once you break $ 20,000
Throughout 2020, Vays said Bitcoin will likely stay above $ 10,000 and target $ 20,000 the following year. Note:

“At the beginning of the year, I thought it would be difficult to get $ 20,000 next year. Now I think it’s very likely that we will break $ 20,000 next year.”

As analysts on the chain said in August, the $ 10,000 area turned into a strong support level for Bitcoin. As long as the key psychological level of $ 10,000 is intact, a longer uptrend is likely.

Vays also compared Bitcoin with gold. He indicated that gold broke its all-time high and rose 5% from its previous high very quickly.

The trader mentioned that Bitcoin could do something similar in the medium to long term if it breaks through its all-time high of $ 20,000. It is to explain:

“We are watching what happens with gold. Gold has finally broken an all-time high, which it reached ten years ago, only recently, and has already crossed $ 100. So it has risen 5% very quickly. Let’s see how fast gold has risen since it reached To its highest level ever, and Bitcoin could do something similar. ‘

How Far Can Bitcoin Go?
Various pricing models predict that the Bitcoin price will be between $ 30,000 and $ 250,000 in the long run.

According to Vays, he would be happy if Bitcoin’s next rally was around $ 45,000. In the past, Bitcoin experienced a major breakout from its previous record high, reached a new high, and then corrected. A rapid rise to unsustainable price levels could leave Bitcoin vulnerable to sharp drops. he added:

“Do we think we can get as much as $ 100,000? I’m not ready to make that statement. For me, I’d be happy if the next high is $ 45,000, and it can happen quickly.”

A constant feature that complements Bitcoin’s upside is a cheap global macro background that also complements gold. Fears of rising inflation and economic uncertainty could support Bitcoin’s momentum.

Source: CoinTelegraph