Vinny Lingham: Crypto Market Won’t Recover Anytime Soon

Vinny Lingham, a general partner at Multicoin Capital and the CEO of Civic, believes the crypto market won’t recover any time soon. He said: The crypto market will rise again, but most likely only when the pain of the recent fall becomes a distant memory. Don’t underestimate the power of psychology in free markets. Why Crypto Could Take a Long Time to Recover Top cryptocurrency assets including bitcoin (blue), ethereum (red), and ripple (orange) have taken steep losses over the past several days. In 2017, the crypto market saw one of the most intense bull runs in its decade-long history fueled by the sudden emergence of retail traders and individual investors in regions like Japan and South Korea. At one point, the demand for crypto in South Korea surged to a point in which the premium of the Bitcoin price achieved 20 to 30 percent. When Bitcoin was trading at…

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