Why a Sub-$3,000 Drop Will Mean Bitcoin Has Entered ‘Nuclear Winter’

Vinny Lingham, a general partner at crypto fund Multicoin Capital and the CEO at Civic, has said that if the Bitcoin price drops below $3,000, it will face serious problems.

In an event in which the Bitcoin price plunges to the $2,000 region — breaking a major support level at $3,000 — the investor said that crypto winter would turn into “nuclear winter.”

Bitcoin Nuclear Winter: Why is $3,000 Important?

Throughout the past two months, following a steep sell-off in November, Bitcoin has been relatively stable in a tight range between $3,500 to $4,000.

Read the full story on CCN.com.