Vinny Lingham fears further declines in the price of Bitcoin

Vinny Lingham, CEO of Civic, said that if the price of Bitcoin falls below USD 3,000, it will become a serious problem for the cryptocurrency market.

Although in the recent period the price of Bitcoin has been fairly stable, for two days on the Crypto exchanges are registered again declines. They are still far from falling out and causing huge panic among investors, at the same time this does not optimize the current “hodlers“.

Already on December 14, 2018 BTC almost fell below USD 3,000, but then the bulls managed to pull the course up. In any case, Su Zhu, CEO of Three Arrows Capital, noted that an increase in volume is being recorded around this level, which shows that this price is still considered attractive by investors.

The above may, however, change soon. Every investor has long noticed that stock market players usually quickly get used to the next – lower or higher – levels and consider them “normal” and expected. Self-deception? Possible. Now the trader Mark Dow sees a similarity to the autumn situation in the BTC / USD chart, when Bitcoin kept the price level for about 6,500 USD for a long time. How did it end? A violent drop. Now it can be similar, and the current movements are the prelude to a sharp descent.

The Liqui Exchange is ending its activity!

It may actually be necessary to get rid of weaker players – both investors and companies – to fully clean the market. More and more start-ups from the ICO market are falling. Yesterday, the Liqui Crypto Exchange closed its operations:

“To our regrets, Liqui is no longer able to provide liquidity to [its] users. We also do not see any economic reason for providing services. (…) Therefore, we decided to close all accounts and stop providing our services. “

Liqui Exchange

Kyle Samani, co-founder and general partner at Multicoin Capital, said the market bess was not over yet. And he thinks that this will not happen until more crypto exchanges and trading platforms are closed. This will inevitably happen when the price falls below and many investors lose their faith in the new bull market and bubble …

Facebook Comments