Civic CEO: BTC is definitely likely to fall below $3,000

Civic CEO Vinny Lingham recently said in an interview with CNBC that historically, only bitcoin prices are twice as high as the bottom price to escape the bear market. Considering that the current price of Bitcoin at the bottom of the current period is $3,100, the alert can only be lifted when it rises to $6,200. In addition, Lingham believes that Bitcoin is definitely likely to fall below $3,000. He does not believe that the bear market cycle is over and the key price level is $6,200. Otherwise, Bitcoin will "fall into purgatory" and will be in a narrow range of $5,700 to $6,200 over a period of time.