CivicKey CEO: If Bitcoin Holds at $6,200 Level for the Next 24-48 Hours, the Bear Market is Officially Over


Bitcoin is gradually becoming a significant force to reckon with in the crypto market, and this comes at a time when the cryptocurrency is facing fewer criticisms from the self-acclaimed economists and some regulatory bodies who are garnering for strict regulations on the digital asset.

In the last few hours, Vinny Lingham a Bitcoin enthusiast, the CEO of CivicKey returned to Twitter to make a significant claim. At the time when a question was asked on Twitter by an analyst on CNBC Ran NeuNer on whether Lingham is convinced Bitcoin is already in for a bullish movement, what the crypto-expert is emphasizing this time around is if the price of BTC can surpassed $6,400 and hold at $6,200 and not like his earlier assertion.

The CEO of CivicKey stated:

“If Bitcoin can hold the $6200 level for the next 24-48 hours, then the bear market is officially over and I’m going to become a raging bull!”

Lingham meant through his tweet that if bitcoin remains above $6,200 for the next 24-48 hours, then the bear market is officially gone.

It is necessary to note that Lingham’s tweet piqued the attention of his followers on Twitter and had a series of questions put to him.

Lingham’s assertion is a big change and this is probably due to the fact that he earlier revealed the crypto market hasn’t decoupled the various cryptocurrencies from bitcoin and that the crypto winter is not over yet.

“Many people believe that the crypto winter is over. Here are some of my unfiltered thoughts on this topic. Charts & technicals aside, I don’t believe this rally is sustainable for one reason: The market has not yet decoupled the various crypto assets from Bitcoin”

Bitcoin Has to Hold $6,200 Mark for Predictions to Remain True

Lingham came out last month and stated that the dominance of bitcoin is not reflecting on its price and any rally that comes up is ignited by sentiments. He, however, stated: “If we can break $6200 for BTC, it will likely mark the start of another major bull run and could run hot and high, but if it’s pure speculation and other assets benefit disproportionately to value created, it’s likely not going to end well again!”

No doubts, the CivicKey CEO is a man with great assertions. Here is the main deal: Bitcoin’s price above $6,200 is vital, but it has to remain above and not fall for Lingham’s predictions to be true.

Bitcoin is Moving to $20,000, a Rare Move in a Decade – Peter Brandt

Another crypto enthusiast, Peter Brandt, joins the train of experts who are optimistic on the rise of BTC, as the cryptocurrency gains enough traction and maintains a strong rally.

Brandt is also the author of ‘Diary of a Professional Commodity Trader’ and has said that Bitcoin is steering towards $50,000, “it has to get to $10,000 before it gets to $20, 000,” he stated.

Overall, Bitcoin had its own issues when it comes to scalability and cost of mining, but the crypto’s achievement in the last 10 years is astonishing. However, Bitcoin is heading for a rally along with the upside trend in the market and it has swayed the likes of Lingham, Brandt, Tom Lee, among others.

Bitcoin’s price is $48,727.50 BTC/USD exchange rate today. The real-time BTC market cap of $908.56 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $16.76 Billion and live coin value change of BTC 4.32 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$48,727.5037 change ~ 4.32%

Coin Market Cap

$908.56 Billion

24 Hour Volume

$16.76 Billion

24 Hour VWAP

$47.83 K

24 Hour Change

$2,107.39

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