Civic CEO Winnie Lingham said in an interview with Fast Money CNBC that Bitcoin will remain in a limited range between $ 3,000 and $ 5,000 for at least another six months.
Lingham added that there is a lot of buying pressure around the $ 3,000 level, which could save Bitcoin from falling sharply. But if after six months there is no breakthrough, then for a cryptocurrency market, things can become much worse than the current situation.
Back in 2014, there was a similar “crypto winter” that lasted more than 18 months, during which Bitcoin lost 84% of its ATH (the highest level of all time). But ultimately, investors saw the long-awaited growth in October next year.
It is worth noting that institutional investment structures such as Goldman Sachs, Fidelity and ICE are positively disposed towards crypto space and this gives more weight to its durability and, ultimately, can be one of the important reasons for a turn in the market trend.
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