Winnie Lingham: if Bitcoin will break $6.200, it will mark the start of another major bull run

Winnie Lingham, general partner of Multicoin Capital and the head of Civic, believes that if the Bitcoin rate rises above $ 6.200, this will signal the beginning of a new cycle in the bull market.

"That said, if we can break $6.200 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," Lingham said.

 The head of the Civic stressed that although the price could rise sharply during such bullish jerks, it would not correspond to the fundamental factors and the actual adoption of cryptocurrencies.

Lingham explained that Bitcoin can take off at least up to $ 10,000, at least up to $ 100,000. But dominance in the cryptocurrency market will not grow by the same amount. That is, other assets will grow. But they have no prerequisites for this, it is just speculation, which will again lead to a cycle of a bear market.

Note that at the end of January Winnie Lingham predicted the possibility of continuing the bearish trend and the fact that "a cryptocurrency winter can turn into a nuclear one." It seems that this did not happen, the rate of the first cryptocurrency increased significantly, and the capitalization of the cryptocurrency market recently exceeded $ 185 billion.

SOURCE