Deconstructing the Bitcoin Market Cap by Vinny Lingham

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…


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