Trader Who Called Bitcoin’s Crash Says BTC ‘Looks Fragile’ at $7,200. Is $1,000 Possible?

Alex Dovbnya

This trader thinks that Bitcoin bears are on the comeback trail, with BTC potentially plunging all the way to $1,000


While former Wall Street trader Tone Vays has already turned bullish on Bitcoin, there is one avid bear who predicts more blood. 

Trader and macro economist Henrik Zeberg recently tweeted that Bitcoin looked fragile at $7,200. This makes him think that another flash-crash could be on the cards.

The crash that very few saw coming 

As reported by U.Today, Zeberg made a wild prediction that BTC could drop all the way to $2,000 when the leading cryptocurrency was comfortably sitting at around $9,400 on Feb. 1. Back then, nothing boded ill. 

However, the tables turned just one month after his tweet, and the $2,000 target didn’t seem too far-fetched anymore, with BTC collapsing nearly 50 percent on March 12 all the way to its 2020 bottom of $3,800.   

The bottom might not be in    

Recently, Vays explained that the way BTC rebounded from its March 12 finally made him bullish. He has joined a cohort of other Bitcoin maximalists who believe that the O.G. cryptocurrency could eventually start acting as a safe haven during the coronavirus-driven crisis. 

Meanwhile, Zeberg is convinced that both gold and Bitcoin are in for another ruthless sell-off. In fact, he lowered his target for the latter to just $1,000.

Source link