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Guggenheim’s Scott Minerd on Bitcoin: "$30,000 May Soon Fail"

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Fri, 07/16/2021 - 18:55
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Alex Dovbnya
Guggenheim’s Scott Minerd claims that Bitcoin's key support level may soon break
Guggenheim’s Scott Minerd on Bitcoin: "$30,000 May Soon Fail"
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In a recent tweet, Scott Minerd, chief investment officer at investment firm Guggenheim Partners, has opined that Bitcoin’s pivotal support level at around $30,000 “may soon fail.”      

He believes that it keeps becoming weaker with each new test.

Earlier today, Bitcoin dropped as low as $31,012 on the Bitstamp exchange, but it then managed to bounce back to the low-$32,000 region. The largest cryptocurrency is currently trading in the green.

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As reported by U.Today, Minerd predicted that Bitcoin could sink to $15,000 or even $10,000 in late June.

Later, he reiterated his bearish call, claiming that Bitcoin was in the middle of “a crash.”

After its massive plunge in May and a failure to find footing above the $41,000 level in June, Bitcoin has now been range-bound for over three weeks.

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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.