According to Crypto Analyst, Crypto Oracle, The dreaded crypto winter is not over. He is still waiting for a decisive bullish move before he can confidently declare that the crypto winter is over. There are challenges working against the Bitcoin, the Crypto Oracle explains.
Who is the Crypto Oracle
The Crypto Oracle is Vinny Lingham. He is a trade analyst from South Africa. He is also the founder of several businesses and organizations like Civic, Silicon Cape, Yola Inc and Gyft. Civic is an identity protection and management firm from South Africa. Silicon Cape is a South African based Organization which aims to turn Cape Town into a Technology hub.
He is widely considered as an expert in the world of blockchain and his comments carry a certain weight in that world. He recently spoke about the Bitcoin and Crypto Winter in the CoinSpice Podcast regarding the challenges ahead for the Bitcoin
Volatile Crypto Market as Bitcoin Gears Up to End Crypto Winter
The Crypto market is gearing up for volatility in the next few weeks which they need to get past before ending the crypto winter. The only thing for certain is uncertainty and fear as the Bitcoin reaches key resistance levels in the next few days. Once bitcoin prices hit the range between strong support at the $5700 and strong resistance at the $6200 mark.
What it Takes to Break the Crypto Winter
In the same interview, the Crypto Oracle spoke about key points that need to be reached before you could confidently say that the Crypto Winter is over. The $6200 mark would represent a rise of 2 times above the bottom.
He also explored the challenges that keeps the Bitcoin within the crypto winter. He explains that money from institutions would not likely come until a few years from now. The influx of money is essential for the break of the crypto winter but it is unlikely after the events of New York AG vs Bitfinex.