Bitcoin halving

The Bitcoin Halving Day is Upon Us – Vinny Lingham Weighs In

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With the Bitcoin halving event just hours away, I want to once again turn your attention to the thoughts of Vinny Lingham.

Here’s his latest post on the topic, The Lake Wobegon Effect:

Here we are on the eve of only the second “Bitcoin Halving” and there is an immense amount of speculation around what will happen. When I wrote my Bitcoin 2016 post in early May, the price was $450 and I speculated that after the halving, it would hit $1,000 by the end of the year. I clearly wasn’t the only one who believed that the halving would have an impact and the price ran up to around $770 last month, but then came crashing down to mid $500’s and is now in a broad consolidation range. Given the liquidity that sits outside the traditional exchanges and lives within the Bitcoin OTC market, the price will continue to be volatile until more coins are traded via a transparent marketplace — which may take months or years. We can’t plan around that.

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Deconstructing the Bitcoin Market Cap by Vinny Lingham

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A little over two years ago, I came across a fascinating piece by serial entrepreneur Vinny Lingham which predicted a flat-to-down bitcoin price in the medium term. I highlighted the piece in the post, Why is the Bitcoin Price So Weak? The reason I found the article so compelling was not just the well thought out thesis, but also because he remained a bitcoin bull. As someone who spent 10 years professionally observing the financial markets on Wall Street, I know how difficult it is to be bullish and at the same time admit the price won’t be going anywhere for a while.

Ever since that post was published, I waited anxiously for a followup signaling that the weakness was over. I had to wait two years, but in early May 2016 he publicly turned very bullish. I highlighted this shift in the piece, Vinny Lingham on the Bitcoin Price – Prepare for the “Mother of All Short Squeezes”. One month later, the price is +25%.

Seemingly inspired by the recent action, Vinny has been writing more frequently as of late and he just published another piece titled, Deconstructing the Bitcoin Market Cap.

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