On Apr. 29, BTC hit an intraday high of $8,970 on the Bitstamp exchange before erasing a substantial portion of its gains.

However, former Wall Street trader Tone Vays expects this rally to run out of steam, which is why he has already sold his long position to buy another dip.

Bitcoin makes Coinbase crash (again)    

Due to this enormous volatility, the app of Coinbase, the leading U.S. exchange, started to crash.

Now that Bitcoin has hit Vays’ $9,000 target, which has also coincided with a CME gap, traders should be prepared to buy another dip.