Analytics / Forex and Crypto News
Vinny Lingham, co-founder, and head of Civic, which develops identification solutions based on blockchain technology, believes that crypto-winter is not over and doesn’t see the fundamental fundamentals for this. This opinion was expressed in an interview with the CoinSpice podcast.
“The crypto-winter will end when we break through the level of $6,200. So this is not the end,” said Lingham.
According to him, now Bitcoin is testing a key channel of resistance, formed approximately below $6,500 and above $5,700. Lingham called the BTC level at $6,200 a critical indicator for the market growth, as this would mean growth “two times from the bottom”.
However, the increase of institutional interest in Bitcoin and cryptocurrencies is a good argument in favor of market growth.
“Institutional money does not come the way people think. I do not see that we will soon see Bitcoin at $6,300 - there is no fundamental support,” the analyst emphasized.
Moreover, Lingham believes that it will take years for Bitcoin to be universally traded for global value. Currently, the use of the first cryptocurrency is in speculation, therefore, it expects a rollback below $3,000 and medium or long-term consolidation, he added.
Recall that earlier Winnie Lingham accurately predicted the fall of the BTC from $5,700 to $3,000. Earlier, he also said that he expects a new bubble in Bitcoin at the level of $100,000 per coin.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov