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Guggenheim CIO Predicted That Bitcoin May Plummet By 50% In The Short Term

Mary Liu

Summary: Scott Minerd, the Chief Investment Officer of Guggenheim Partners, said in an interview with CNBC on Wednesday that Bitcoin is growing too fast.  Minerd believed Bitcoin has risen a lot so far and in a "big bubble", there will be a major correction in the short term, and the price of Bitcoin may retreat to ...

Scott Minerd, the Chief Investment Officer of Guggenheim Partners, said in an interview with CNBC on Wednesday that Bitcoin is growing too fast. 

Minerd believed Bitcoin has risen a lot so far and in a "big bubble", there will be a major correction in the short term, and the price of Bitcoin may retreat to $20K-30K, a drop of 50%. 

But the CIO also mentioned this is a normal evolution for a long-term bull market. In the long run, the price of Bitcoin will rise to $400K-$600K.

By Mary Liu

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