Guggenheim Partners CIO Scott Minerd predicted that the world's largest cryptocurrency will drop 50 percent in the short term, Minerd said it is bullish in the long run and prices could rise to the $ 400-600k range.
Guggenheim Partners CIO Scott Minerd said he expects Bitcoin to rise in the long term, but there may be a 50 percent decline in the cryptocurrency, which has recently risen "too much and too fast".
Speaking to CNBC, Minerd said, "We have seen a big movement in the short term, foam has formed, I think there will be a big correction in bitcoin.
Bitcoin is trading around $ 55,000 today, after reaching an all-time peak last week, approaching $ 65,000.
Noting that Bitcoin can be pulled to 20-30 thousand, Minerd said, "This means a 50 percent decrease. We've seen such drops in Bitcoin before. " He spoke in the form. Minerd also predicted that my prices would rise in the long term, reaching the range of 400 thousand - 600 thousand dollars.
Bitcoin continued its big rally, which started in 2020, this year as well, and has risen around 90 percent since the beginning of the year. Institutional interest has also been one of the factors that triggered the rise of crypto money. While some companies such as Tesla invest in bitcoin, many companies from Mastercard to Goldman Sachs are also taking steps related to cryptocurrencies.
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