The Bear Of All Bears Becomes Super Bullish
Many people are aware of Michael Saylor of MicroStrategy due to his recent bullish acquisitions of Bitcoin. A visit to Saylor's Twitter account is like landing on the stage of a massive Bitcoin marketing campaign.
What many don't know is that Saylor was not only once bearish on BTC but he also called for the death of the King Crypto. When bears and prophets of doom flip bearish, you know something is up! Tone Vays is very much known to be rather conservative in regards to his price predictions on Bitcoin and is often viewed as being predominately bearish. This is largely due to his bearish stance throughout 2018 and 2019.
The fact that Vays is extremely bullish is quite a significant indicator. Yes, he did get a number of calls wrong due to him not being able to shift from bearish to bullish at the appropriate time but over the longer horizon he has been fairly accurate. It is pretty refreshing to hear Tone sprouting some positivity once more!
Massive Rally Within 6 months
When a trader known to be as cautious as Vays starts using the term "MOON" in his tweets, it's time to be alert! Tone is predicting a massive rally within the next 6 months and believes that 50K is a reasonable target. Though Vays does foresee a sharp correction from 50K, he also predicts that BTC will indeed recover to the 50K level, prior to breaking 100K. This is quite standard behavior for Bitcoin, as the largest retracement in 2017 was approximately 44%.
Massive pullbacks in a bull run are only a concern to leverage traders, as they can be decimated in an instant. Hodlers see only a momentary loss as dips are bought up so aggressively that prices experience nothing more than a speed wobble.
With so many bullish factors coming together for Bitcoin, it becomes quite clear why even the bears are shifting camps!
