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Civic.com co-founder, Vinny Lingham, has reiterated that Bitcoin cannot reach $28K in 2019, after betting $20K in charity if the price of BTC does this year 2019.
It is few days to the end of 2019, but Vinny and Ronnie Moas, founder and director of Standpoint Research, made some predictions regarding the 2019 price of Bitcoin. The two made the forecast in 2018 on the Final Day of World Crypto Con. The gathering was presided over by Travis Wright and Joel Comm of the BAD Crypto Podcast.
During the prediction phase, Vinny said any one whose prediction did not come through donates $20k to FreeRoss.org, a group offering legal help to Ross Ulbricht, for his role in Silk Road, an anonymous market place said to be aiding and abetting criminals.
During the time, Vinny Lingham said it is impossible for Bitcoin to get to $28,000 USD on any “reputable exchange” by 2019. However, Ronnie was different, restating his bullish prediction on Bitcoin.
Ronnie has been pegging Bitcoin to $28,000 by the end of 2019 and a hundred thousand 5 years after.
Ronnie said Bitcoin would reach 100,000 by 2024 or 2023, and that should be precipitated by the next halving.
Countering Ronnie, Vinny said his prediction was the kind of the running jokes of the 2017/2018 when people thought Bitcoin had seen a paradigm shift.
“I try to prevent this bubble I mean this was this was kind of the running joke of last year,” Vinny said.
“I can’t see Bitcoin getting to it $28,000 next year, by the end of next year… I think that’s 40% above where we were in January.. 18 months from it doesn’t work.”
He asked where the money that will raise Bitcoin to $28000 is going to come from.
Responding, Ronnie said people thought Amazon was overvalued because they were losing money on every book that they sold, but today the company’s worth $800 billion.
However, Vinny said Amazon can’t be compared with Bitcoin because the firm had good fundamentals, money on every book that they sold.
“They had good fundamental… have traction, they had metrics. What are the metrics around this is good?,” Vinny uttered.
“I’m asking what the metrics are that makes you think it’s gonna go from $6,000 to $28000 in 13 months.”