The head of the blockchain startup Civic Lingham Vinnie (Vinny Lingham) in an interview on CNBC have suggested that the rate of bitcoin may remain low for several more months.
The businessman was a guest of the weekly program on CNBC Fast Money on modern processes in the financial system. In conversation with a leading Lingham said that he considers cost in the range of $3000-$5000 for a likely bitcoin in the next six months. The guest expressed doubt that the price of bitcoin could drop below $3000, because in the short term is expected to increase demand for Coyne. However, if the market is not out of the crisis in the next 3-6 months, according to Lingham, the course will hover around the bottom mark.
Despite its forecast regarding the exchange rate for bitcoin, the entrepreneur noticed that in the current circumstances to buy cryptocurrency is still risky.
“I think the risks now alter the growth potential in the short term. More opportunities will be available later. You pay a bit more by buying bitcoin at a price of $5700 to $6000 in the future, when it will inevitably be more expensive, but this purchase will be less risky. After all, if bitcoin will be able to return to this level, so he can grow up to former heights,” explained Langham.
In response to the question about how the drop in the price of BTC can affect the development of platforms, built on the Bitcoin network, Lingham stated that it definitely will slow down, but the real problem lies in the development of the cryptocurrency — after all it relates to is ambiguous even within the community. According to entrepreneur, many had pinned high hopes on bitcoin as an instrument of store of value, which was a mistake. Others were attracted by the idea of cryptocurrency and the likelihood that in the future she will be replacing the payment systems, like MasterCard and Visa.
Recall that Winnie Lingham — known cryptosuite skeptic. Early last year he stated that cryptocurrencies can be an ordinary bubble, the solution lies in applying for the cryptocurrency market the fundamental principles of the traditional economy. Later in July, Lingham spoke about his vision for the future of cryptocurrency and its impact on modern society. He acknowledged that financial “bubbles” — a consequence of human psychology, and they will inevitably appear as the development of new technologies. The blockchain, in the opinion of the entrepreneur, really has great prospects and will create in the future “private economy”.
