Asset Manager Guggenheim Lowers Bitcoin ‘Really Low’ Price Prediction – Bitcoin Planet Markets and Prices

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Guggenheim CIO Scott Minerd made another bitcoin price prediction, a lower estimate than his previous “true” price prediction.

Guggenheim Partners Chief Investment Officer (CIO) Scott Minerd returned last week with another bearish prediction for bitcoin. Minerd is also chairman of Guggenheim Investments, the global asset management division of Guggenheim Partners, with approximately $ 270 billion in assets under management. Minerd predicted last month that bitcoin’s “true bottom” would be $ 15,000, based on its specs. He reduced the price point by $ 10,000 at the time, calling it “a bit extreme.” However, in an interview with CNBC on Friday, Minerd indicated that the $ 10,000 level is now possible. “When we look at the history of crypto and look at where we are at,” he said:

I really believe it’s probably a crash. And, you know, a crash would mean we’d have a 70-80% drop, which, let’s just say, is somewhere between $ 10,000 and $ 15,000.

Guggenheim’s CIO continued, “In other words, I wouldn’t be in a rush to buy bitcoin and see no reason to own it just yet. If you are going to be a speculator, assume it goes lower. While Minerd has continually predicted crashes and new short-term bitcoin sales, he maintained his long-term BTC price prediction of $ 400,000 to $ 600,000. Meanwhile, Guggenheim tried to gain more exposure to BTC. In June, the firm registered a fund that allows exposure to cryptocurrency. According to his file with the United States Securities and Exchange Commission (SEC), Minerd will be responsible for the day-to-day management of the portfolio.

What do you think of Scott Minerd’s bitcoin prediction? Let us know in the comments section below.

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