íàçâàíèå

Prominent Bitcoin Analyst: If BTC Holds this Price for a Day or Two, I’m Flipping Bullish

A prominent cryptocurrency analyst and one of few yet to be convinced that Bitcoin will not sink lower than its December 2018 low of $3,200 once again is teetering on the edge of bullishness. Vinny Lingham, a South African entrepreneur and co-founder of the Civic (CVC) blockchain identity platform, has stated that he will come around to the belief that crypto winter is indeed over if Bitcoin can stay above the price many though would serve as immense resistance – $6,200.

Lingham has previously commented that he thinks Bitcoin unlikely to make any lasting gains until it moves up and down independently of other altcoins. However, he did also state that if we cross the $6,200 price point, we could very well be looking at a new bull run regardless of decoupling.

Lingham: If Bitcoin Holds, “I’m Going to Become a Raging Bull”

Bitcoin is currently sitting at its 2019 high point in terms of price. The world’s most popular digital asset by market capitalisation is having a much more positive start to this year than it did in 2018. In dribs and drabs, this has caused almost all those commenting on the market to state that bear market is now over and accumulation has already begun.

One of the last people to come round to this way of thinking is Civic CEO Vinny Lingham. The South African crypto entrepreneur took to Twitter last month to muse on the likelihood of the downtrend in prices having reversed. Ultimately, Lingham concluded that Bitcoin would not be capable of any sustained upwards movements until the rest of the crypto space stopped moving in tandem with Bitcoin.

For Lingham, the idea that XRP, Ether, Monero, or any other coin or token gains in value when Bitcoin does is ridiculous. He stated last month that it was evidence of a market that had little clue what made different digital assets unique and why some were better than others.

At the time, however, he did state that he was prepared to change his mind about the bottom being in, providing Bitcoin price could charge past the $6,200 level.

Well, guess what? Bitcoin did just that this afternoon. At the time of writing, a single unit of the digital currency will set you back $6,407. That’s quite an increase from the less than $4,000 it started 2019 priced at.

True to his word, Lingham has today taken to Twitter once again to update his market forecast. This afternoon, the entrepreneur posted:

The $6,200 price area that Bitcoin stormed through earlier today was considered by many to be a significance area of resistance that would likely send Bitcoin much lower once again. Back in autumn 2018, Bitcoin had been holding steady above the significant price, when the news of the Bitcoin Cash hard fork that created the now hugely unpopular Bitcoin SV appeared to cause it to crash through support and find the current low point of this market cycle – around $3,200.

Related Reading: Bitcoin Dominance Moves to 2019 High: Is This The Start of Crypto Decoupling?


Featured Image from Shutterstock.

The post Prominent Bitcoin Analyst: If BTC Holds this Price for a Day or Two, I’m Flipping Bullish appeared first on NewsBTC.

10.05.2019 / 15:00 19
Prominent Crypto CEO: Bitcoin (BTC) Passing $6,200 To Spark “Major Bull Run” Prominent Crypto CEO: Bitcoin (BTC)
Crypto Winter Might Not Be Over Just Yet The brutal, nearly 16-month long “crypto winter” might not be done just yet, according to Vinny Lingham
Civic CEO: Crypto Winter Not Over Until Bitcoin Leaves Alts Behind Civic CEO: Crypto Winter Not Over Until
The CEO and co-founder of blockchain-based identity platform Civic (CVC) has stated that he does not think the crypto bear market is over just yet.
Civic CEO: Bitcoin’s Crypto Winter Could Soon Turn ‘Nuclear’ Civic CEO: Bitcoin’s Crypto Winter
The term “Crypto Winter” has been thrown around a lot lately to describe the more-than-one-year-long bear market in Bitcoin and broader
CivicKey CEO on Bitcoin Price: “Good Chance We’re Going to Retest $3,000” CivicKey CEO on Bitcoin Price: “Good
The co-founder of blockchain-based identity management platform CivicKey has weighed in about the current state of the cryptocurrency markets.
Vinny Lingham Warns Of ‘At Least’ 3-6 Months Of Bitcoin Price Under $5K Vinny Lingham Warns Of ‘At Least’ 3-6
Civic CEO Vinny Lingham forecast the Bitcoin price to remain below $5000 for at least three to six months this week as sentiment throughout the
BTC Price Won’t Hit $28K By 2020 – Vinny Lingham Bets Ronnie Moas BTC Price Won’t Hit $28K By 2020 –
As Bitcoin continues to trade in a rather narrow range, industry experts Vinny Lingham and Ronnie Moas stand on both sides of a $20,000 charity bet
Comments (0)
Add a comment
Comment on