Guggenheim CIO Scott Minerd said in his CNBC program that the $10,000 level would be the real bottom of Bitcoin, based on technical indicators.
Minerd later acknowledged that this extremely bearish price target may have been “exaggerated,” saying the price could be around $15,000.
“Shouldn’t Be Hurried”
Bitcoin’s rapid rise to the $35,000 level was seen as a bull trap. The asset is now down to $32,000. It looks like the bears are on the move.
Minerd says that investors who want to enter the leading cryptocurrency should not rush:
Bitcoin needs to experience a 68% correction for Minerd’s most pessimistic target to be met.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.