In a new strategy session, Vays said he believes BTC will rise to $ 14,000 soon. The analyst expects the leading cryptocurrency to return to $ 10,700 towards the end of the year, then rise to an all-time high of $ 20,000 in the first half of 2021.
Bitcoin (BTC) Cycle Will Rock Altcoins
Old J.P. Vays, vice president of Morgan Chase, says that the upcoming cycle of Bitcoin will shake certain altcoins.
“Bitcoin is still kind of flying under the radar. People still believe in garbage like DeFi and many other scam cryptocurrencies, and new ones appear to be coming out. People still haven’t learned their lessons. So Bitcoin will fly below the radar, we will have a massive 40% drop, shitcoins will drop 60-70%, and then Bitcoin will rise again. Everything will start over. ”
Vays, who previously prepared risk analysis for Bear Stearns, says that Bitcoin has performed better than he originally anticipated this year. Vays is showing an uptrend in the S&P 500 in the long term after the major market correction in March.
“I think the correction has already happened. I don’t think there will be a one to four year fix. I think this happened. The year started and we crashed with this red arrow and now we are healed. We are positive that this will create a big bullish candlestick of the year. “