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2021-07-09

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Scott Minerd believes bitcoin is in a ‘crash’ that could take it as low as $15,000

Guggenheim’s Scott Minerd, who called the dramatic decline in the price of bitcoin, said Friday that

Scott Minerd believes bitcoin is in a ‘crash’ that could take it as low as $15,000

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But when we look at the history of crypto, and we look at where we are, I really do believe this is probably a crash,” Minerd said. “And a crash would mean we’d be down 70% to 80%, so that would be, let’s just say, between $10,000 and $15,000.”\nMinerd said in April thatbitcoin’s price would soon be cut in half.When Minerd made his call, bitcoin was trading near $55,000 after pulling back from its all-time high above $60,000. It fell allthe way below $30,000 in June.\nThe cryptocurrency has since perked up off its lows, but Minerd said the overall trend still pointed toward further declines. On Friday,it was trading around $32,800.\n“The market is trading heavy. It’s really hard to get this thing to reverse. I wouldn’t be in a hurry to buy bitcoin, and I don’t see any reason to own it right now. If you’re going to be a speculator, speculate that it’s going lower,” he said.\nThe Guggenheim global chief investment officer is not a full crypto skeptic long term, having previously said that bitcoin could eventually rise above $400,000 per coin.","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}