Bitcoin Support Level Warning: VC Predicts Catastrophic Consequences

Vinny Lingham, a prominent venture capitalist, has warned about the potential consequences of Bitcoin losing its current price support level at $60,000.

According to Lingham, the market is balancing on a razor's edge and any decline below $64,000 could lead to a sharp retest of the $60,000 mark. However, if this level gives way, Lingham predicts that the consequences would be severe.

He believes that breaking $60,000 would trigger violent cascading liquidations and make recovery unlikely until the next halving approaches. Additionally, Lingham warns that corporate holders of cryptocurrency, including treasury companies for both Bitcoin and Ethereum, could face systemic failures.