Express

Guggenheim CIO: Bitcoin's Parabolic Rise Is Unsustainable In The Near Term

Mary Liu

Summary: In response to Bitcoin's nearly 20% plummet, which hasn't seen since last mid-March, Scott Minerd, Guggenheim Partners' Chief Investment Officer tweeted: “Bitcoin's parabolic rise is unsustainable in the near term.  Vulnerable to a setback. The target technical upside of $35,000 has been exceeded.  Time to take some money off the table.” As Bitpush previously reported, ...

In response to Bitcoin's nearly 20% plummet, which hasn't seen since last mid-March, Scott Minerd, Guggenheim Partners' Chief Investment Officer tweeted: “Bitcoin's parabolic rise is unsustainable in the near term.  Vulnerable to a setback. The target technical upside of $35,000 has been exceeded.  Time to take some money off the table.” As Bitpush previously reported, in December of last year, Minerd predicted that the price of Bitcoin should reach $400,000.

By Mary Liu

Last Update:

Tags: ,
Link: Guggenheim CIO: Bitcoin's Parabolic Rise Is Unsustainable In The Near Term   [Copy]
Next:

Related Articles

  • Autonomous Worlds: The Ultimate Goal of Blockchain? 1 days ago
  • Have Cosmos and Polkadot Been Replaced? The Future of ATOM and DOT 4 days ago
  • Polygon AggLayer: Uniting Modular and Monolithic Blockchain Architectures 5 days ago
  • Bitcoin DeFi and Layer 2s: The Next Trillion-Dollar Opportunity? 15 days ago
  • Is the Crypto Bull Market Over? 16 days ago

    • You need to login to comment.