Guggenheim CIO Predicts “Real Low” Bitcoin Warns BTC Price Could Fall To $ 15,000 – Markets And Prices Bitcoin News

Guggenheim’s chief investment officer, Scott Minerd, believes he knows where the real low in Bitcoin price is. He warns that the price of the cryptocurrency could drop to the $ 15,000 level.

Guggenheim’s Scott Minerd sees Bitcoin floor

Guggenheim Partners Chief Investment Officer (CIO) Scott Minerd is back with another bearish prediction for Bitcoin and a prediction of where the “real bottom” of Bitcoin price lies.

Minerd is also chairman of Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners. Guggenheim Investments has total assets under management of approximately $ 270 billion in bonds, stocks and alternative strategies.

He said in an interview with CNBC on Friday:

The real low, if you look at the specs, would be $ 10,000 as the real low. You know, that’s probably a little extreme, so I’d say $ 15,000.

That prediction followed his comment on Tuesday on Twitter when he wrote, “Look for further declines in crypto if bitcoin breaks support. The next likely level of support is $ 20,000. “

Minerd stated on Friday that the recent BTC price rally was supported by significant “central bank liquidity”. He warned that Bitcoin’s price will fall if liquidity dwindles.

Bitcoin price fell below the $ 30,000 mark last week. At the time of writing, BTC is trading at $ 31,583 based on data from Bitcoin.com Markets.

The Guggenheim CIO said it “would be in no rush” to get back into Bitcoin at $ 20,000, noting that the cryptocurrency should consolidate sideways for a few years before moving higher. He mean:

I don’t think people need to be concerned about investing money in Bitcoin right now.

Minerd has made several bearish predictions about the price of Bitcoin in the near future. In May, Minerd warned of a massive Bitcoin sell-off after alerting investors to a major BTC correction in April.

Despite his short-term bearish forecast, Minerd is long-term bullish on Bitcoin, believing the price of the cryptocurrency could reach $ 600,000. “We do a lot of basic research. If you look at the supply of bitcoin relative … to the world’s gold supply … if bitcoin were going to numbers like that. They’ll be talking from $ 400,000 to $ 600,000 per bitcoin, ”the CIO described.

What do you think of Scott Minerd’s Bitcoin price prediction? Let us know in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



source https://bidsfor.me/guggenheim-cio-predicts-real-low-bitcoin-warns-btc-price-could-fall-to-15000-markets-and-prices-bitcoin-news/

Comments

Post a Comment

Popular posts from this blog

‘Doctor Bitcoin’ pleads guilty to operating an illegal crypto exchange in the US and faces 5 years in prison – regulation Bitcoin News

A Texas man who calls himself “Doctor Bitcoin” pleaded guilty to having operated an illegal cryptocurrency exchange business converting cash into Bitcoin. He faces five years in federal prison. Crypto Exchange Operator pleads guilty The US Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, pleaded guilty to “illegally engaging in a business converting cash into cryptocurrency.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to running an unlicensed money transfer company. Acting US attorney Prerak Shah in detail: This defendant ignored federal law and allowed scammers to use Bitcoin to operate under the radar of law enforcement. We are determined to rid the Bitcoin market of anyone who knowingly helps criminal actors hide illegal profits in crypto wallets. Hopkins admitted to running a cryptocurrency exchange business and converting US dollars into cryptocurrency, primarily Bitcoin, for a fee. He also admitted...
Read more

Payments Giant NCR brings Bitcoin trading to 650 US banks and their 24 million customers – Finance Bitcoin News

Payment giant NCR and New York Digital Investment Group (NYDIG) are working together to enable 650 U.S. banks to offer Bitcoin trading to their 24 million customers through their mobile applications. 24 million customers from 650 Main Street banks could soon have access to bitcoin trading New York Digital Investment Group (NYDIG) said Wednesday when 650 banks and credit unions in the US will soon be able to offer Bitcoin trading to their customers via their mobile applications. The Bitcoin option is made possible through a collaboration between NYDIG and corporate payments giant NCR. NYDIG is a bitcoin technology and financial services subsidiary of Stone Ridge, a $ 10 billion alternative asset manager. NCR digital banking president Douglas Brown was quoted by Forbes as saying: We strongly believe in the benefits of crypto and its strategic application. And that goes for our banking relationships, as NYDIG proves, and for retailers and restaurants and the like. Founded in 1...
Read more

These are the 5 Most Expensive Crypto Economics Assets Per Unit – Markets and Prices Bitcoin News

Image
As of July 18, Bitcoin is the most valuable cryptocurrency in US dollars per unit, currently trading for $ 31,693. In addition to all the packaged Bitcoins and synthetic Bitcoin connections, the second highest crypto asset per unit is the longing for financing and the manufacturer follows. Removing market cap positions and looking at crypto assets this way gives a user a completely different perspective. A look at the top digital currencies by unit price At the time of writing, there are only two crypto assets worth five digits and only two worth four. A look at the price of each coin per unit shows how many coins are being traded in certain price ranges. The unit price recorded in this report was recorded at 8:55 a.m. EDT on Sunday, July 18, 2021. The data was collected from the crypto market aggregation sites market.bitcoin.com and coingecko.com. The five most expensive crypto assets per unit include Bitcoin, Long Finance, Maker, Ethereum, and Bitcoin Cash. The per-unit pric...
Read more