Main navigation

Guggenheim's Scott Minerd Stands by $15,000 Bitcoin Price Prediction Despite Elon Musk-Driven Recovery

News
Thu, 07/22/2021 - 06:30
article image
Alex Dovbnya
Guggenheim's Scott Minerd hasn’t been swayed by Bitcoin’s recent recovery
Guggenheim's Scott Minerd Stands by $15,000 Bitcoin Price Prediction Despite Elon Musk-Driven Recovery
Cover image via www.youtube.com
Read U.TODAY on
Google News

In a recent Bloomberg interview, Scott Minerd, Guggenheim's chief investment officer, reiterated his $15,000 Bitcoin price prediction:

Ultimately, I think that something in the neighborhood of $15,000 is where we are going to end up.  

He is convinced that there is still “some more air” to come out of the Bitcoin bubble.

Related
Elon Musk Says Tesla Will "Most Likely" Resume Accepting Bitcoin
Minerd points to the fact that standard Bitcoin bear cycles have had 80 percent corrections.  

The executive believes that uncertainly and rivalry with competing cryptocurrency projects could put more pressure on Bitcoin.

After a brutal sell-off that took place earlier this week, the flagship cryptocurrency managed to stage an impressive recovery on Wednesday in anticipation of Elon Musk and Jack Dorsey’s big talk.

article image
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.