Civic Founder and blockchain entrepreneur Vinny Lingham recently reiterated that he would turn bullish on bitcoin if it surpassed $6,200 and managed to hold support at that level. Lingham recently gave his opinion on the current rise in the price of bitcoin.
Lingham stated in a series of tweets that he is bullish on bitcoin, following its surge to $8,000. Lingham had previously tweeted that he was bullish on btc if it climbed and held over $6,200, which it has easily done.
Lingham tweeted a thread stating “What part of – “I’m bullish on Bitcoin if it breaks and holds $6200 for 24-48 hours” is ambiguous? Yes, I’m now bullish on Bitcoin. Do I think we hit $20k in the next month? Absolutely not, but, anything is possible…”
What part of – "I'm bullish on Bitcoin if it breaks and holds $6200 for 24-48 hours" is ambiguous? Yes, I'm now bullish on Bitcoin. Do I think we hit $20k in the next month? Absolutely not, but, anything is possible…
— Vinny Lingham (@VinnyLingham) May 13, 2019
The Civic founder also commented on some current concerns he still has with bitcoin, including fee stability and inflation impacting the network, as well as if Satoshis bitcoin are ever moved, which would likely make BTC bearish once again.
Lingham admits that it is “likely that we are at the start of a recovery”. He expects that bitcoin will test new highs, saying “It might take a year or so, but we’re going to test $20k again at some point in the near future.”