Asset Manager Guggenheim Lowers Bitcoin’s ‘Real Bottom’ Price Prediction

Guggenheim CIO Scott Minerd has made another prediction about where the price of bitcoin will be, a lower estimate from his previous “real bottom” price prediction.

  • The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, returned last week with another bearish prediction for bitcoin. Minerd is also the chairman of Guggenheim Investments, the global asset management division of Guggenheim Partners, with about $270 billion in total assets under management.

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  • However, in an interview with CNBC Friday, Minerd indicated that the $10K level is now possible. “When we look at the history of crypto and we look at where we are,” he said:

I really do believe this is probably a crash. And, you know, a crash would mean we’d be down 70%-80% which, let’s just say that’s between $10,000 and $15,000.

  • The Guggenheim CIO continued: “Put it this way, I wouldn’t be in a hurry to buy bitcoin and I don’t see any reason to own it right now. If you’re going to be a speculator, speculate that it’s heading lower.”

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