Scott Minerd, Chief Investment Officer at Guggenheim Partners, said he thinks Bitcoin will fall soon. He said there would be an increase in the long run.
Scott Minerd, Chief Investment Officer at Guggenheim Partners, claimed bitcoin could experience a correction of around 50 percent in the short term. Scott Minerd noted:
“Given the massive movement of Bitcoin (BTC), things seem extremely complicated. I think there could be a big correction in Bitcoin.”
While Minerd thinks the bull run will continue in the long run, he predicts a decrease in the short term. After the remarkable direct listing of the popular US-based cryptocurrency exchange Coinbase, Bitcoin reached a new ATH level and refreshed the record. Then, the Bitcoin price, which declined to the 51 thousand dollar band, annoyed the investors. Minerd noted the following regarding the latest developments:
“I think Bitcoin will be somewhere between $ 20,000 and $ 30,000 by correcting it.”
Despite these statements, Minerd predicts that the bull run in the cryptocurrency market will continue in the long run, and Bitcoin may one day rise to the level of $ 600,000.