Bitcoin could still crash below $3000 - Vinny Lingham

[coinplus]

Seriously? Dropping to 1700? Like even if that is possible which it is not the support is at 1900 not 1700, anyone who checked out the resistance and supports would have known this, dude must be just making up numbers as he is going along and just putting them on news.

Bitcoin will not drop that much, I can tell you that much, bitcoin is going above right now and even with a correction the price is set at 4400 right now for support and will not go below believe me. I think the real reason these people want bitcoin to drop is that they have purchased a heavy amount of bitmex shorts or cme shorts so if bitcoin goes up all their money will go to waste and they will lose it. They want bitcoin to drop to 1700's so they could potentially profit a lot from that move.

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[joshv06]

Vinny Lingham has no idea what he's talking about. He is a complete joke imo.

Haha, may be he was druken at the time he said this. People were speculating bitcoin dumped to 2k again when the market blooming over 4.5k USD but now bitcoin has proved its worth and market reached the 5.5k value now.
We may ignore such value speculation and keep on moving with the investment amount we have.

Hmmm we cannot guess his state but there is no possibility for BTC to go below 3k. Now BTC is performing good and  values are increasingly slowly which is the positive result for crypto market hence don't go for some low amount prediction. BTC will going to increase in the upcoming years.

[Wexlike]

Vinny Lingham has no idea what he's talking about. He is a complete joke imo.

Haha, may be he was druken at the time he said this. People were speculating bitcoin dumped to 2k again when the market blooming over 4.5k USD but now bitcoin has proved its worth and market reached the 5.5k value now.
We may ignore such value speculation and keep on moving with the investment amount we have.

Hmmm we cannot guess his state but there is no possibility for BTC to go below 3k. Now BTC is performing good and  values are increasingly slowly which is the positive result for crypto market hence don't go for some low amount prediction. BTC will going to increase in the upcoming years.

If you want to be bearish in this bullish market, you should have some reasons for this. Let me help you to support your position providing bearish signals one by one.

What if the market forms a double top? This chart pattern belongs to a reversal group of patterns and it can confirm a trend reversal or a correction as a "light version".
The double top will be confirmed if the price can break the local swing low. For this, the price will have to break 5000.00 support level .

The other bearish signals are provided by MACD lines and histogram. This indicator supports the downward movement.

RSI is not far from the overbought zone. The line dropped from the zone, moved upward and probably soon, we will see a new falling from 70 level.

[LeGaulois]

Do you know what I was thinking about?  People are not interested anymore to know what caused the recent rise. They're just happy with the money, how that comes doesn't matter 
That being said, it would be nice if the bullish trend continued at least until the end of the month but I'm not sure that's an option when the whole market is red today.

[kickdapa]

I don't think it can happen very soon! Bitcoin price ups and downs will continue, but the Bitcoin price chart is heading forward right now! Anytime we can see a good pump, even Binance research said Bitcoin is set for a bullish run and the bearish ends confirmed! But Vinny Lingham has enough points to make this statement! Bitcoin price still can crash at 3K USD, But personally, I would not agree with him.

[Oceat]

Maybe he was right since the market is not yet in the bullish stage there is still a tendency that it would back to where it wanted since the price right now maybe some kind of a bull trap. Although i've seen it moving from 5K to 5.3K and it is stable just like the previous stable price of 3.8 to 4k. But i don't think Bitcoin would get back to the bearish market since the movement of Bitcoin seems going up since it is done going bottom.

[gentlemand]

Maybe he was right since the market is not yet in the bullish stage there is still a tendency that it would back to where it wanted since the price right now maybe some kind of a bull trap.

At these price levels it doesn't feel like there's that much conviction around at present. I could easily see it falling back into the $3000s. Going below the previous low though would have to wade through an awful lot of orders to get there. Things can turn in an instant so it's possible but it's going to take some effort and it won't be for a while.

[medsi2]

Maybe he was right since the market is not yet in the bullish stage there is still a tendency that it would back to where it wanted since the price right now maybe some kind of a bull trap.

At these price levels it doesn't feel like there's that much conviction around at present. I could easily see it falling back into the $3000s. Going below the previous low though would have to wade through an awful lot of orders to get there. Things can turn in an instant so it's possible but it's going to take some effort and it won't be for a while.

Me too, I think that we may expect a retest of 3k-3.8k range after the 5.8k rejection. Also the positive sentiment that brought us to the 5k level seems to be vanished.
In any case I have some more leveraged buy orders to fill in that scenario.

[Cheesus]

We are getting some big people to entertain us with their words! This man is like a true hater of the Bitcoin, he always loves to make downtrend prediction for the bitcoin price. He is like a foe for the Bitcoin and after Craig Wright, we need to ignore this man. I will stop trading Civic coin from now, we have many good options to trade but they have only us! If we refuse these guys from the crypto, the crypto market will be much better than now, though sometimes we would miss their entertainments 

[Che454010]

Considering the volatility of bitcoin anything can happen, but the actual situation doesn't seem that bad, as the whales have started returning to the market and the volume is increasing, so i don't think that bitcoin would reach that low in near future. If it can't go up immediately then it would remain stable for some time.

[bbc.reporter]

Maybe he was right since the market is not yet in the bullish stage there is still a tendency that it would back to where it wanted since the price right now maybe some kind of a bull trap.

At these price levels it doesn't feel like there's that much conviction around at present. I could easily see it falling back into the $3000s. Going below the previous low though would have to wade through an awful lot of orders to get there. Things can turn in an instant so it's possible but it's going to take some effort and it won't be for a while.

Anything can happen, however, easily back to $3000? I reckon it might be harder for bitcoin to fall back into the $3000s than flying over $6000s. No one is dumping their bitcoins anymore, only their altcoins hehehe.

[Serco]

Maybe he was right since the market is not yet in the bullish stage there is still a tendency that it would back to where it wanted since the price right now maybe some kind of a bull trap.

At these price levels it doesn't feel like there's that much conviction around at present. I could easily see it falling back into the $3000s. Going below the previous low though would have to wade through an awful lot of orders to get there. Things can turn in an instant so it's possible but it's going to take some effort and it won't be for a while.

Anything can happen, however, easily back to $3000? I reckon it might be harder for bitcoin to fall back into the $3000s than flying over $6000s. No one is dumping their bitcoins anymore, only their altcoins hehehe.

altcoin price now dumped by the holder since bitcoin price rise alot from $4000 to $5300.and maybe this moment still continue if bitcoin show its power in market.in my opinion there is no chance anymore if bitcoin drop to below $3000,investors and crypto community now very confidence with its future moreover many countries accept bitcoin.

[bbc.reporter]

Our new contrarian indicator? It was only last month when Vinny Lingham has said that bitcoin could still crash below $3000. It pumped, however. In this latest article he said that I am now bullish on bitcoin. It might dump hehehe!


Lingham tweeted a thread stating "What part of - "I'm bullish on Bitcoin if it breaks and holds $6200 for 24-48 hours" is ambiguous? Yes, I'm now bullish on Bitcoin.

Lingham admits that it is "likely that we are at the start of a recovery". He expects that bitcoin will test new highs, saying "It might take a year or so, but we're going to test $20k again at some point in the near future."

Source https://www.chepicap.com/en/news/9661/vinny-lingham-on-btc-we-re-going-to-test-20k-again-.html