On January 9, Bitcoin dropped $250 in thirty minutes, taking everyone by surprise. The currency traded around $3,800 for a day, but even this couldn’t hold. Earlier today, Bitcoin lost another $160 to trade just above $3,650. A brief fightback saw the currency get back over $3,700, but the rally was shortlived. At press time, Bitcoin was trading at $3690. On Coinbase Pro and Bistamp, the currency was trading below $3,650.
And the short-term future doesn’t look too promising for investors, at least not according to Vinny Lingham. Lingham is the CEO and founder of Civic, a blockchain identity management platform and a prominent crypto markets commentator. In a recent interview, Lingham stated that he believes Bitcoin will test $3,000 soon, and might even breach it. His remarks come two months after he warned investors against investing in Bitcoin before it reclaims $6,000.