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Guggenheim CIO Warns Crypto Holders About Volatile Holiday Weekend

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Fri, 05/28/2021 - 17:30
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Alex Dovbnya
Guggenheim's Scott Minerd is warning crypto holders about another volatile weekend
Guggenheim CIO Warns Crypto Holders About Volatile Holiday Weekend
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Guggenheim CIO Scott Minerd has taken to Twitter to caution cryptocurrency investors about volatility ahead of the upcoming Memorial Day weekend. 

Bitcoin is struggling to decisively recover from its drop to an intraday low of $35,154, trading at $36,211 on the Bitstamp exchange. 

The largest cryptocurrency is currently down 37 percent this May, heading for its worst month since September 2011.

BTC
Image by tradingview.com

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As reported by U.Today, Minerd said that it would take "a while" for the cryptocurrency markets to recover, but he also predicted that Bitcoin and Ethereum would ultimately end up being among the very few survivors.        

In December, he made plenty of headlines after predicting that Bitcoin could reach $400,000, but he then clarified that it was a long-term forecast.          

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.