Guggenheim Investment Director Says Bitcoin Could Drop To $ 10,000

Please follow our Telegram channel for faster news updates: https://t.me/coincunews

Scott Minerd, chief investment officer at investment giant Guggenheim Partners, told CNBC that he believes Bitcoin will bottom out at $ 10,000-15,000 in the upcoming soil survey.

Chief Investment Officer Scott Minerd

In the interview, Minerd said that investors shouldn’t be impatient to put their money in Bitcoin now, as Bitcoin predicted it could be a few years before it turns bullish again.

In December last year, Minerd told Bloomberg news agency that his company’s fundamental analysis put Bitcoin at $ 400,000. Just weeks later, in January, he told CNBC that there wasn’t enough institutional demand to sustain Bitcoin’s all-time high of $ 41,000 and that it could roll back to $ 20,000. In early February, he again announced his Bitcoin price target of up to $ 600,000 to CNN.

In November, shortly before the chief investment officer’s bullish forecast, Guggenheim filed an amendment with the US Securities and Exchange Commission that would allow institutional mutual funds to invest up to $ 500 million in Bitcoin.

Just last month, Minerd tweeted: “Crypto has been shown to be the Tulip Syndrome – a reference to the 17th century Dutch tulip bubble.

Thach Sanh

According to Coindesk

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page