Guggenheim Investment Director: Bitcoin Could Return to $15,000

Scott Minerd, Chief Investment Officer at Guggenheim Partners, predicts that Bitcoin (BTC) worth may backside out across the $10,000 to $15,000 worth vary.

In an interview with CNBC On June 26, Scott Minerd – Chief Investment Officer of Guggenheim Partners, a multi-billion greenback enterprise – stated that Bitcoin (BTC) may backside out within the $10,000 to $15,000 worth vary.

Also on this interview, Minerd additional shared that buyers shouldn’t be anxious to “put money down” on Bitcoin proper now. According to his prediction, the BTC/USD worth will possible transfer sideways for just a few years earlier than the market begins to rally once more.

However, Mr. Minerd’s opinion just isn’t appreciated as a result of this supervisor has often modified his opinion on Bitcoin worth.

In December 2020, Minerd shared with Bloomberg that his elementary evaluation expects Bitcoin to hit $400,000. Just a few weeks later, ie January 2021, this funding director stated to CNBC that there’s not sufficient shopping for demand proper now to assist Bitcoin reaching its all-time excessive of $41,000, and it may return to the $20,000 worth level.

However, in the beginning of February 2021, Scott Minerd’s views continued to vary. This time, he shared with CNN that my highest goal for Bitcoin (BTC) worth is $600,000.

Going again to the previous in November 2020, simply earlier than the prediction of Minerd’s first bull run, the Guggenheim firm filed an modification to the SEC to have the ability to make investments as much as almost 500 million USD in Bitcoin by by way of Grayscale Bitcoin Trust (GBTC).

And in May 2021, Minerd shared his view that the confirmed cryptocurrency is “Tulipomania”. This alludes to the tulip market bubble within the Netherlands within the 1600s when that market collapsed utterly after a interval of hypothesis.

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