Civic CEO: bitcoin fell below $3000 to buy now “too risky”

Bee: financial reports compiled identity management startup Civic, chief executive of Vinny Lingham11 26, said in an interview with CNBC, bitcoin (Bitcoin, BTC) the price will maintain the range over the next few months, but are likely to break the $3000 mark.

Lingham on CNBC (CNBC) “fast money” (Fast Money) program that bitcoin transactions will be maintained at least three to six months between $3000 to $5000. Lingham on the BTC price is below $3000 support a doubt, because there is a lot of buying in the near level.”

However, Lingham stressed that “if we are in the next three to six months out of the bear market cycle, $3000 is likely to continue.”

Lingham also said that the current buying bitcoin “too risky”, adding that if the market really turn, high risk will bring high returns. Lingham further said: “I think, in any case, the current risk more than short-term upward. Will have a better chance of. Then bitcoin prices may be higher, you may need to pay a little more. But in the future at that level ($5700 or $6000) to buy coins although more expensive, but if bitcoin can go back to back up, and go back to the previous peak, you will lower the risk.”

When asked whether bitcoin prices plummeted affect the development of bitcoin platform based on Lingham, believes that bitcoin prices slowed the pace of development of bitcoin, but “the real question is” bitcoin “story”.

Lingham pointed out that some people buy bitcoin as a store of value, he claimed that “the fact that is not the case”. He said that some people will accept bitcoin vision that bitcoin is a payment network, and MasterCard (MasterCard) or Visa payment processing products to compete.

Lingham had good encryption technology – in 2013 he entered the encrypted currency market, especially the bitcoin Market — saying, because of his skepticism, encryption technology has “the twists and turns of the past”. In February 2017, he wrote a blog, the risk warning crypto currency “another bubble”. In this regard, Lingham said, the fundamental need to guide the market, rather than speculation, but the community does not agree.

Earlier this week, Galaxy Digital founder Mike Novo Gallazzi (Mike Novogratz) said that he expected the cryptocurrencies will “in the next year because of the” double “, next year prices will once again start moving”. Graz novol also predicted that the financial institutions will be in the first quarter of next year from the “investment encryption Monetary Fund” to “investment encryption currency itself”.

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