Why a Sub-$3,000 Drop Will Mean Bitcoin Has Entered ‘Nuclear Winter’
- Why a Sub-$3,000 Drop Will Mean Bitcoin Has Entered ‘Nuclear Winter’
- Vinny Lingham, a general partner at crypto fund Multicoin Capital and the CEO at Civic, has said that if the Bitcoin price drops below $3,000, it will face serious problems.
- In an event in which the Bitcoin price plunges to the $2,000 region — breaking a major support level at $3,000 — the investor said that crypto winter would turn into “nuclear winter.
- As Su Zhu, the CEO of Three Arrows Capital, said last month, every time Bitcoin dropped to the low $3,000 region, big buy walls on crypto-to-fiat exchanges in the likes of Coinbase and Bitstamp were formed.
Read full article: ccn.com