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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

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