CIO Guggenheim Scott Minerd: Don’t rush to buy Bitcoin now, wait for a real low of $ 10,000

Scott Minerd, chief investment officer (CIO) of global asset management firm Guggenheim Partners, has made another prediction for Bitcoin’s direction, a lower estimate than the previous “real low price prediction”.

Scott Minerd – CIO Guggenheim Partners

Last month, Minerd predicted that Bitcoin’s “real low” would be at $ 15,000 based on its technical indicators. At the time, he said the $ 10,000 price tag was “a little extreme”.

However, in an interview with CNBC on Friday, Minerd pointed out that the $ 10,000 level could now be Bitcoin’s bottom.

“When I look at the history of cryptocurrencies and see where Bitcoin is going, I really believe there is going to be a crash. And, you know, a crash means the price will drop 70% to 80% and in this case it will be between $ 10,000 and $ 15,000.

That said, I’m in no rush to buy Bitcoin and I see no reason to own it right now. If you want to be a speculator, speculate that it will go down. “

While Minerd has consistently predicted another crash and sell-off for Bitcoin in the short term, he has maintained his long-term BTC price prediction of $ 400,000 to $ 600,000.

Meanwhile, Guggenheim is trying to get more involved with BTC. In June, the company registered a fund that allows exposure to cryptocurrencies. According to filings with the Securities and Exchange Commission (SEC), Minerd will be responsible for day-to-day portfolio management.

Annie

According to NewsBitcoin

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