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Guggenheim Investments chairman Scott Minerd said in an interview with CNBC that he would not be in a rush to buy the cryptocurrency.
He added that there was no reason for investors to buy Bitcoin at this time as he sees the world’s largest cryptocurrency in the midst of a collapse that could reach the $ 10,000 level.
“When we look at the history of cryptocurrencies and look at where we are at … I really think it could be a crash, which means a price drop of 70-80%, which could push Bitcoin to highs. levels between $ 10 and $ 15,000, ”Minerd says.
Bitcoin prices have already collapsed nearly 50% since peaking in April to currently trade around $ 33,000, as the price drop was driven by a number of factors, including increased regulatory oversight of China in the UK, the environmental impact of cryptocurrency mining and fears. than the original In general, it has no intrinsic value.
Minerd, who predicted last December that the price of Bitcoin would reach $ 400,000, said yesterday in the interview with “CNBC”: “I will not be in a hurry to buy Bitcoin and see no reason for it. own now. ” “If you’re going to be a speculator, expect him to drop.”
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