Bitcoin Price Bounces Above $5K as Analyst Forecasts a ‘Squeeze Up’
BTC price crash “did not break the model”
Data from Coin360 and Cointelegraph Markets showed BTC/USD circling $5,300 at press time on Saturday. Volatility remained high, with the pair’s 24-hour range close to $1,000.
Bitcoin was fresh from daily lows of $4,940, which came hours after trader Tone Vays predicted that the cryptocurrency would dip below $5,000 for a final time.
Trajectory remained uncertain, he said, but argued that in spite of this week’s huge losses, markets had not witnessed enough “pain” at Friday’s levels.
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