Suffering prolonged. The expert said, when Bitcoin will rise above $ 5,000
Source:
The founder of the project Civic Vinny Lingham does not believe in the imminent bullrun. In his opinion, Bitcoin price will remain below $ 5,000 for at least three months. Lingam does not rule out a long flat, which can last up to six months. The expert noted that the bears should not fall into a state of complete euphoria, because they are unlikely to drop Bitcoin below $ 3,000.
theWe are here to stay
A New framework for the next flat Bitcoin Lingam announced in an interview on CNBC.
I think it [Bitcoin] will walk in the range from three to five thousand dollars. This process can take from three to six months. At the moment, we also will not fall below $ 3,000, as at this point there are many who want to buy cryptocurrency. However, if the market does not get out of a bullish cycle in the next six months, the main support is unlikely to hold.
Today, the main coin of the stock market was pleased with most traders with its growth by as much as 13 percent. At the moment Bitcoin is trading slightly above the level of 4200 dollars.
CEO Civic also does not believe in the imminent arrival of institutional investors. The reason is simple — sudden price movements of the cryptocurrency with huge volatility. As an example, the Lingam brought the last plums of Bitcoin, which unexpectedly came after quite a long flat.
If you're talking about the coming of institutional investors and ETF on the crypt, it is not so. The asset with high volatility like this can't attract big money.
image Source — ELEVENEWS
Another argument against growth — limiting maximum block size of one megabyte. Lingham believes that this is a serious obstacle to the scaling of cryptocurrency. However, to expedite the sending bitcoins, you can use network Lightning Network, which is a huge pace in almost each day.
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