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’
    Joseph Young
  • 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.

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