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]
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 1 day ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 2 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 5 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 6 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 8 days ago
  • You need to login to comment.