Bitcoin could still crash below $3000 - Vinny Lingham

[bbc.reporter]

We have found our next entertainer for the bitcoin speculation subforum that will replace our favorite bitcoin bull Tom Lee hehehe.

Vinny Lingham is known for his bearish attitude on bitcoin during 2017 when everyone was hyperbullish. He also declared that he sold all his bitcoins on $1250 in that year, I reckon.



Vinny Lingham, CEO of Civic, while discussing what is next for the Bitcoin price with CNBC’s Crypto Trader Ran Neuner noted that he is still not convinced the crypto winter market is over. Vinny still expects the bitcoin price to hold a particular level before he’s ready to concede that the bears have lost control.

Vinny explained that “I’m not buying any bounce right now that doesn’t go to around $6,200 and stays there for at least 24-48 hours as being the end of the bear market cycle.”

Also, Vinny like most crypto enthusiasts concedes that the bitcoin price is near the bottom of the bear market cycle. However, it could have more bouncing to go. His assertion is based on history that bitcoin hasn’t escaped a bear market until the price is two times higher than the bottom. Hence, the current circle could still fall below the mark of $3,100, and $6,200 mark is the clear coast of the bull run. Vinny stated that “There’s absolutely a chance we could go below $3,000. I don’t think the bear market cycle is necessarily over.”

Read in full https://www.btcnn.com/news/vinny-lingham-bitcoin-could-still-crash-below-3000/

[jademaxsuy]

So, if he thinks this way then the possible outcome would be exactly the opposite. You were stating their OP that he even sold his btc on 2017, the time where BTC reach its ATH. So, meaning that there is something good that will going to take place. That guy does seem to know the real things that might happen and it is the opposite maybe on what he stated.

History repeats itself and this man is a total failure in prediction of bitcoin market price but not on his company. This will serves as the basis to everyone wishes to invest more.

[hatshepsut93]

Everything can happen, we all know how volatile Bitcoin is, and very few people predicted the current bullish movement, but at this point it just seem so unlikely to go to $3,000. If the price will go back to $4,000, then this will start sounding more realistic, but I think if the market will turn bearish again, it will happen in a few steps, and not a single big drop. But let's not forget that halvening is coming in a year, so there's very little time left for a bear market, everyone expects a bull run soon.

[Herbert2020]

bitcoin is a Roller coaster that is moving upwards over all, and each time it changes its direction there are some people to hang on tight to the previous trend that no longer exists and get crushed by the market.
in 2018 there were those who got stuck in the bull market and became bag holders predicting $50k,... and now there are newbies who are stuck in the bear market predicting $3k, $1k,... and are being crushed by the market.

[btc78]

After all that said ,who cares?

Why this stupid so called “experts” releasing statements whenever the market is bullish?and why enjoying sharing this crap for us?why instead of this shits then gave us positivity for more chance of investing?

If we really want the market to grow,let us stop sharing this nonsense.

bitcoin is a Roller coaster that is moving upwards over all, and each time it changes its direction there are some people to hang on tight to the previous trend that no longer exists and get crushed by the market.
in 2018 there were those who got stuck in the bull market and became bag holders predicting $50k,... and now there are newbies who are stuck in the bear market predicting $3k, $1k,... and are being crushed by the market.

Thats part of investments,choosing the right or wrong path.i am one of those bag holders but i dont care as long as I respect and trust the capacity of bitcon to bring me fortune in right time

[Herbert2020]

bitcoin is a Roller coaster that is moving upwards over all, and each time it changes its direction there are some people to hang on tight to the previous trend that no longer exists and get crushed by the market.
in 2018 there were those who got stuck in the bull market and became bag holders predicting $50k,... and now there are newbies who are stuck in the bear market predicting $3k, $1k,... and are being crushed by the market.

Thats part of investments,choosing the right or wrong path.i am one of those bag holders but i dont care as long as I respect and trust the capacity of bitcon to bring me fortune in right time

there is a difference between being a bag holder and a long term investor.
a bag holder is someone who has invested in something worthless that has a high chance of losing value over the long term. example: 98% of the altcoins
a long term investors on the other hand is someone who has invested in something that has a high chance of rising its value over the long term. in which case it doesn't matter what happens to the price with its volatility as long as the changes don't harm your investment plan. for example if you have bought bitcoin to hold for at least 5 years then the volatility that lasted a year is of no concern to you.

[Yaunfitda]

For me we could see the price goes as high as $5600 before we can see an imminent correction. But I'm not seeing the price crashing below $3k, could be in the highs of $4k.

Let's just enjoy the current ride not really into that bearish predictions again, lol. Bitcoin price is really based on the sentiments of the people. If investors wanted to pour their money right now then good, if they wanted to sell then nobody can stop them. But listening to perma-bears like Vinny? nah, I'm done with them, I would rather hear Tom Lee's prediction though. 

[BlackPanda]

I'm sure the price of Bitcoin can last for a long time. I am very pessimistic that this can happen, support for Bitcoin is very large because it has such a large market share. The development of Bitcoin is so good now and more and more places are accepting payments via Bitcoin, this can make an indication that the price of Bitcoin will increase very stable. Support from all of us will determine whether we can maintain this situation well or not.

[michellee]

The chance will still there because everything can happen in the cryptocurrency market. But we can prevent to make a mistake by watching the trend and analyze the situations. He can say anything about the cryptocurrency market, and as long as we can research and predict what will happen, then we don't have to worry. Don't let other people interfere with our decision because it will cause us to make a mistake. You can read their statement, but you still need to analyze by yourself.

[omonuyak]

It is possible that bitcoin  may still go beyond $3000 but the current bullish trend was not what most of this populars guys has predicted.  I think everything is possible even as bitcoin can still grow back to $20,000 before end of this year!  That is why we have to take risks into consideration in our investments.

[Caladonian]

His opinion can be used to study deeper for what will be the actual cause why the price will do down once more, there's lots of people who also call the same as they've seen not enough strength to keep the value to rise high, given from his previous position where he sold he's Bitcoin in it's early stages where the ATH has been reached from the said last quarter.

Wisely think about potential reasons before you take your side and believe to some who give his position regarding to the market trends.

[gentlemand]

Quite possible, but this guy is a tosser who says nothing worth listening to.

The stupid bitch actually sold all of his BTC in the expectation of Bitcoin Unlimited or whatever it was going over 51% or whatever the deal was whenever it was.

[lablab03]

We should not easily put a trust in this kind of prediction because we all know what is always happened sometimes because of being so volatile of market  . Wherein we need more proof for it to assure everything will be fine and no problem afterwards,  we should make our own research and stay away on some experts stuff because it's not reliable to trust nowadays wherein opposite always happened now! .  In fact on this case i don't see any possibilities that bitcoin will crash below 3k because its now had big improvement. So if this predictions happen in the near future.only whales is the reason behind in my opinion because its a massive dump from 5k to 3k.

[tomahawk9]

Meh, he can go and join the others who predicted sub 3k months ago, I'm sure there's plenty of space in that waiting room 

Why this stupid so called “experts” releasing statements whenever the market is bullish?

Maybe they're targeting the weak hands and panic sellers who dump their coins at the first sign of a dip. If they read these bearish comments and then later see their btc going down in value, there's a high chance that they'll dump, they'll push the price down and then guys like Lingham and others will buy cheap. IMO it's all mind games, they just want the accumulation phase to keep going.

[Shinpako09]

Everything can happen, we all know how volatile Bitcoin is, and very few people predicted the current bullish movement, but at this point it just seem so unlikely to go to $3,000. If the price will go back to $4,000, then this will start sounding more realistic, but I think if the market will turn bearish again, it will happen in a few steps, and not a single big drop. But let's not forget that halvening is coming in a year, so there's very little time left for a bear market, everyone expects a bull run soon.

Exactly, halving is getting near so even if bear market will show up, it will go up again eventually. Although it's not 100% clear that we got out of bear market, it seems there's no major news ahead that can take down the upward trend aside from prediction like this that doesn't work.

[CaVO32]

Meh, he can go and join the others who predicted sub 3k months ago, I'm sure there's plenty of space in that waiting room 

Why this stupid so called “experts” releasing statements whenever the market is bullish?

Maybe they're targeting the weak hands and panic sellers who dump their coins at the first sign of a dip. If they read these bearish comments and then later see their btc going down in value, there's a high chance that they'll dump, they'll push the price down and then guys like Lingham and others will buy cheap. IMO it's all mind games, they just want the accumulation phase to keep going.

we don't know their real motives why they are saying such things to bitcoin. for all we know, they might be storing bitcoin and even if we are laughing at their "stupid remarks", in the end, they are winning the situation. by the way, who labeled them as so-called "experts" or they are just self-proclaimed ones? 

[Ayiranorea]

The market was quite strong above $5200 and today drastic fall has taken place with each and every cryptocurrency in the market, few exceptions were found. This time the price could fall low, but soon can expect a recovery of the same. Vinny Lingham comes up with this kind of predictions often and most of his focus were upon the bitcoin futures.

[fabiorem]

I dont think its possible anymore, to go below $3000, let alone go back to the $3000s.

[dark08]

I dont think its possible anymore, to go below $3000, let alone go back to the $3000s.

Everything are possible to happen buddy like what happen this pump up to bitcoin we cannot expect a good run for bitcoin after a beaeish scenario but then again its suddenly go down, if bitcoin touch the $3k level then I will buy more.

[ralle14]

The last time we saw Bitcoin's price below $3000 was somewhere between August of 2017. The chance is always there but with how the market is currently doing it's looking unlikely.

I dont think its possible anymore, to go below $3000, let alone go back to the $3000s.

I disagree, it's still possible to see Bitcoin sink to $3,000 or less, a regression could happen just like last year when the price was so stable at $6k then rise up to $8k.