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2021-06-25

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Prominent investor Scott Minerd predicts the 'real bottom' in the price of bitcoin

2021-06-25

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The cryptocurrency currently last traded at around $34,000 per unit, which is more than 40% off that record level.\nMinerd had predicted“a major correction”in bitcoin prior to the latest plunge.\n“The real bottom, when you look at the technicals, $10,000 would be the real bottom. You know, that’s probably a little extreme. So I would say [$15,000],” said Minerd, global chief investment officer of Guggenheim Partners.\n“If it got to $20,000, I wouldn’t be in a hurry to buy it because when markets like this wash out, it … usually takes a couple of years of consolidation. So I don’t think people need to be anxious to be putting money in bitcoin right now,” he added.\nMinerd said the declines in bitcoin have come as central banks have started to ease the amount of money they inject into the economy. He added that the easing in money supply is not yet done — implying that the cryptocurrency has more room to fall.\nBut Minerd said he remains bullish about bitcoin over the long term as more institutional money flows into the cryptocurrency. Until that happens, bitcoin remains “a highly volatile speculative asset,” he added.\nThe investor hadpreviously shared his predictionthat bitcoin would eventually reach $400,000 to $600,000 per unit.","news_type":1},"isVote":1,"tweetType":1,"viewCount":165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122807633,"gmtCreate":1624608946022,"gmtModify":1633950585257,"author":{"id":"4087690602184630","authorId":"4087690602184630","name":"Jlsw","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087690602184630","authorIdStr":"4087690602184630"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122807633","repostId":"1192734381","repostType":4,"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":122890962,"gmtCreate":1624608978956,"gmtModify":1633950584895,"author":{"id":"4087690602184630","authorId":"4087690602184630","name":"Jlsw","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087690602184630","authorIdStr":"4087690602184630"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122890962","repostId":"1102706768","repostType":4,"isVote":1,"tweetType":1,"viewCount":165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122807633,"gmtCreate":1624608946022,"gmtModify":1633950585257,"author":{"id":"4087690602184630","authorId":"4087690602184630","name":"Jlsw","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087690602184630","authorIdStr":"4087690602184630"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/122807633","repostId":"1192734381","repostType":4,"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}