'Bitcoin can sink to $10.000-15.000'

- Advertisement -

"Bitcoin will bottom at $10,000-15,000"

Scott Minerd, Chief Investment Officer of Guggenheim Partners, claims Bitcoin could bottom out at $10.000 to $15.000 in this latest crash.

In an interview with CNBC recently, Scott Minerd, chief investment officer of billion-dollar fund Guggenheim Partners advised investors "not to rush to buy Bitcoin at this time".

- Advertisement -

According to Scott's prediction, the Bitcoin price will likely "sink" to the $10.000 to $15.000 range in the latest drop and then move sideways for several years before rising again.

However, Scott Minerd's point of view is not appreciated. In the past, he repeatedly changed his opinion quickly.

In December, Minerd announced on Bloomberg his company's analytics showed Bitcoin would rise to $12.

But just a few weeks later, he told CNBC that institutional demand was not enough to push Bitcoin higher and that they would return to $20.000. At that time, Bitcoin was priced at $41.000.

However, at the beginning of February, he set another target for Bitcoin of $2 on CNN.

Most recently, on May 20, Minerd likened the cryptocurrency market to the tulip bubble of the 5s, a time when the market completely collapsed after a period of speculation.

Back in November 11, just before Minerd's first bullish prediction, the Guggenheim company filed an amendment to the SEC to make it possible to invest $2020 million in Bitcoin through the Grayscale Bitcoin Trust (GBTC).

Read more:

Rate this post
- Advertisement -


Please enter your comment
Please enter your name here

This website uses Akismet to limit spam. Find out how your comments are approved.

Maybe you are interested

1 million more Australians will buy crypto in the next 12 months

Australia's annual crypto survey conducted by cryptocurrency exchange Swyftx.About a million people...

Bitcoin 'HODLed' Number Hits 5-Year High Despite Bear Market

The leading cryptocurrency has not rallied in the past nine months, investors are considering other strategies...

Singapore's DBS Bank Extends Cryptocurrency Services to 100k Customers

According to an announcement via Bloomberg, Singapore's state-owned DBS Bank has expanded its cryptocurrency trading service to...

The number of addresses sending bitcoin to exchanges drops to 22-month low

With the drop in the price of bitcoin, there has been a lot of selling from investors. This sell-off trend...

Colorado Becomes First US State to Accept Taxes in BTC and ETH

Colorado lawmakers have partnered with PayPal to allow residents to pay taxes in BTC, ETH, LTC, and BCH.

Related posts

- Advertisement -