Tone Vays Does Not Want BTC’s 2019 Parabolic Rally Again

A crypto trader with a lot of experience says that a repeat of Bitcoin’s (BTC) parabolic rally in 2019 would not be good for the price of the king cryptocurrency.

Tone Vays, a veteran trader, tells his 123,000 subscribers in a new video update that he doesn’t want BTC to break the $35,000 level on its first try because it could cause problems.

Vays says that after Bitcoin’s price bottomed out in 2019, it grew by a crazy 200% in just four months. After that, it stayed the same for over a year, including a sudden 70% price drop.

The trader says that the 70% drop was caused by the speed of BTC’s growth at the time because it didn’t build stronger bases that could handle sell-offs.

He says that steady growth at a slow pace would be better.

“If we rally all the way to say $50,000, we can easily crash back down to $25,000 or $30,000. But if we slowly go up to $50,000, I think the chances of going back to $30,000 are going to be super low.

So in a perfect world, we slow our roll right now, go up a little bit [this] week, maybe touch $30,000, pull back down to $25,000 and then break $30,000, head to $35,000, go back from $35,000 down to $30,000, then break $35,000 [again].”

Vays says that he thinks Bitcoin will go back up to between $50,000 and $60,000 if it breaks the $35,000 level in the next few months. Bitcoin is the most valuable digital asset by market cap.

“If you break $35,000 sometime this summer, then sure we can go up to $50,000 or $60,000 and then only pull back to about $30,000 or $40,000. And we can avoid the $20,000s ever again.”

At the time this was written, the price of Bitcoin was $27,633.