{"id":8817,"date":"2021-06-26T23:54:15","date_gmt":"2021-06-26T23:54:15","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/guggenheim-cio-predicts-real-bottom-of-bitcoin-warns-btc-price-could-fall-to-15000\/"},"modified":"2021-06-26T23:54:15","modified_gmt":"2021-06-26T23:54:15","slug":"guggenheim-cio-predicts-real-bottom-of-bitcoin-warns-btc-price-could-fall-to-15000","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/guggenheim-cio-predicts-real-bottom-of-bitcoin-warns-btc-price-could-fall-to-15000\/","title":{"rendered":"Guggenheim CIO Predicts \u2018Real Bottom\u2019 of Bitcoin, Warns BTC Price Could Fall to $15,000"},"content":{"rendered":"

The chief investment officer of asset management firm Guggenheim, Scott Minerd, thinks he knows where the real bottom of bitcoin\u2019s price is. He warns that the price of the cryptocurrency could fall to the $15K level.<\/strong><\/p>\n

Guggenheim\u2019s Scott Minerd Sees Bitcoin Bottom<\/h2>\n

The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with another bearish prediction for bitcoin and a forecast of where the \u201creal bottom\u201d of the bitcoin price is.<\/p>\n

Minerd is also the chairman of Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners. Guggenheim Investments has about $270 billion in total assets under management across fixed income, equity, and alternative strategies.<\/p>\n

He said in an interview with CNBC Friday:<\/p>\n

The real bottom, when you look at the technicals, $10,000 would be the real bottom. You know, that\u2019s probably a little extreme, so I would say $15,000.<\/p>\n

This prediction followed his comment Tuesday on Twitter when he wrote: \u201cLook for more declines in crypto as bitcoin breaks through support. Next likely support level is $20,000.\u201d<\/p>\n

Minerd explained Friday that the recent BTC<\/a> price rally has been supported by significant \u201ccentral bank liquidity.\u201d He cautioned that bitcoin\u2019s price will fall as that liquidity fades.<\/p>\n

The price of bitcoin dipped below the $30K level last week. At the time of writing, BTC<\/a> stands at $31,583 based on data from Bitcoin.com Markets<\/a>.<\/p>\n

<\/p>\n

The Guggenheim CIO proceeded to advise that he \u201cwouldn\u2019t be in a hurry\u201d to jump back into bitcoin at $20,000, noting that the cryptocurrency should consolidate sideways for a couple of years before it moves higher. He opined:<\/p>\n

I don\u2019t think people need to be anxious to be putting money in bitcoin right now.<\/p>\n

Minerd has made several bearish predictions about the price of bitcoin in the near term. In May, Minerd warned of a massive sell-off<\/a> in bitcoin after alerting investors to a major BTC<\/a> correction<\/a> in April.<\/p>\n

Despite his short-term bearish forecast, Minerd is bullish about bitcoin in the long run, believing that the price of the cryptocurrency could reach $600,000<\/a>. \u201cWe do a lot of fundamental research. If you consider the supply of bitcoin relative \u2026 to the supply of gold in the world \u2026 If bitcoin were to go to those kinds of numbers. You\u2019ll be talking about $400K to $600K per bitcoin,\u201d the CIO described.<\/p>\n

What do you think about Scott Minerd\u2019s bitcoin price prediction? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, bitcoin bottom, bitcoin price prediction, bitcoin’s bottom, guggenheim, guggenheim cio, price prediction, real bottom, scott minerd, scott minerd bitcoin prediction, the real bottom<\/p>\n","protected":false},"excerpt":{"rendered":"

The chief investment officer of asset management firm Guggenheim, Scott Minerd, thinks he knows where the real bottom of bitcoin\u2019s price is. He warns that the price of the cryptocurrency could fall to the $15K level. Guggenheim\u2019s Scott Minerd Sees Bitcoin Bottom The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with…<\/p>\n","protected":false},"author":0,"featured_media":8818,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8817"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8817"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8818"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}