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Bitcoin [BTC]: Crypto winter yet to end; other cryptos must decouple from Bitcoin, says Vinny Lingham




Bitcoin: Has the crypto winter officially ended? A prominent bitcoin enthusiast gives his thoughts
Source: Pixabay

Most people focused on Bitcoin trading in the cryptospace are concerned about “the bottom,” and whether the crypto winter has ended. A prominent Bitcoin enthusiast, Vinny Lingham, Founder of Civic Key, tweeted his thoughts about the same and the king coin’s recent rally.

Bitcoin’s rally on 2 April 2019, pushed its price by a few thousand dollars in a couple of minutes. As the rally continued over the next few days, many people were led to believe that Bitcoin had bottomed and that the bull run had begun. However, Vinny Lingham disagreed, claiming that the crypto winter had not ended since the market’s various assets had not yet decoupled from Bitcoin.

Lingham tweeted,

“This means that as the Bitcoin price rises, so does the price of other crypto’s, irrespective of value. This is a key point – Bitcoin could double overnight, but does this mean other assets should too, even if nothing has changed on their end in term of development, network etc?”

Lingham added that although the price of Bitcoin was rising, Bitcoin’s dominance had not increased disproportionately. The problem that Lingham described is that the price of every other cryptocurrency is correlated with Bitcoin, which is why even when there are no developments in other assets, their prices will rise if Bitcoin’s does.

Additionally, Lingham stated,

“The key indicator for the start of a sustainable bull run is likely a decoupling of asset values from Bitcoin (i.e. Bitcoin’s strength weakens other networks or vice versa). Anything else is just speculation again (maybe we need another bubble to learn more lessons? 😉😂)…”

If Bitcoin breaks the $6,200 resistance level, it would be significant and that it would “likely mark the start of another major bull run,” he added.

A Twitter user, @BobLoukas, commented,

“Crypto winter might not be over yet, but the depths of the winter should be. We’re in the thaw, and there is a difference between those phases.”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Bitcoin nirvana is happening right now, says Max Keiser




Bitcoin nirvana is happening right now, says Max Keiser

Bitcoin’s price pump affected the altcoins’ valuation on an optimistic note. The digital coins recovered significantly this year after losing nearly 80% to 90% valuation since the market crash in the first quarter of 2018. As Bitcoin [BTC] continued to trade between $7,600 and $8,300, prominent analysts in the field speculated that the king coin could potentially spiral down a bit more. However, Max Keiser, a Wall Street veteran and host of the Keiser Report, who is also a noted Bitcoin bull is of the opinion that “crypto spring is here”.

The broadcaster, in the latest edition of the Keiser Report, stated,

“It’s just bleeding right into our lives we can hear the lawnmowers outside in there getting ready for crypto summer and then crypto fantasia crypto parallel dimension and the Bitcoin nirvana it’s all happening, it’s all happening, right now.”

Keiser also noted that the global economy was undergoing “deglobalization” which steemed out of uncertainty and volatility and added that there “was no way to hedge against that”.

Stacy Herbert, one of the most influential women in blockchain and a host alongside Keiser contributed to the discussion. She said at a time when deglobalization has hit the economy, one would certainly go along with Bitcoin. According to the broadcasters, trade wars between China and the USA was currently intensifying Herbert; While recalling history, they also took note that the empires started falling during the period of deglobalization which was eventually followed by the two world wars.

Keiser had previously remarked that “Bitcoin is hard money” very similar to gold, and added that it is going to “respond well to hyperinflation and hyper-money printing”.

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