Vinny Lingham on Fast Money saying Bitcoin will stay between $3-5K for 3-6 months

27 Nov, 2018
by David Borman
News
Vinny Lingham on Fast Money saying Bitcoin will stay between $3-5K for 3-6 months

Today Civic CEO and star from Shark Tank South Africa, Vinny Lingham, went on CNBC's Fast Money to discuss where Bitcoin's price is going from here. In a nutshell, he feels we'll see basically sideways action for quite some time.

The interview opens with the host asking the very specific question of where Bitcoin is going to go from here. Lingham says he feels it will be bouncing in a range of $3,000 - $5,000 for the next 3-6 months, after which we could break down even lower.

The host then asks him if his views on the price action make him a "bear" in the crypto world. He takes the opportunity to point out he has a complex past with crypto, then steers the conversation towards Bitcoin's scalability issues and how it is, in his opinion, slowing down market growth.

He continues on to say he feels Bitcoin is neither a store of value nor a currency, but other projects are trying to tackle those issues. He currently thinks the institutional money has all been scared away and that the current market is very high risk, but it could be a smart buy if it gets back to around $6,000.

Will Bitcoin stay in this channel for 6 months? Is now a good time to buy? No way to know except to keep checking back here at Chepicap for all your price action news!

Read more: 9 Bitcoin price predictions for 2019 by crypto experts

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