{"id":15148,"date":"2021-04-22T04:53:34","date_gmt":"2021-04-22T04:53:34","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=15148"},"modified":"2021-04-22T04:54:30","modified_gmt":"2021-04-22T04:54:30","slug":"news-commentary-1341-bitcoin-50-decline-possible","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=15148","title":{"rendered":"News Commentary #1,341 | Bitcoin – 50% Decline Possible.. ?!"},"content":{"rendered":"

A couple of weeks ago, the main part of the disputes and questions in the crypto market was the topic of reaching Bitcoin 100,000  – 120,000 USD per coin<\/strong> and the time that will be spent for this… As in all times, even in a bull market, everything can change within a few days. What we saw .. The correction has found its time and it is rather difficult to understand how long<\/strong> it will continue and to what level<\/strong> it will take us.<\/p>\n

*Below you can read perhaps the most pessimistic forecast<\/strong> of those that exist today. <\/em><\/p>\n

At the same time, I remind all investors and newbies who have just come to the HYIP industry and the Crypto World that any bull market ALWAYS<\/strong> gives strong enough corrections and NOBODY<\/strong> can 100% correctly predict the level where the correction will stop and the trend will change again .. Therefore, please refer to such news and forecasts are quite progmatic<\/strong> and without panic<\/strong>.<\/p>\n

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Investment Manager Guggenheim Warns of ‘Major Correction’ in Bitcoin<\/h1>\n<\/header>\n
\"Investment<\/div>\n

Guggenheim CIO Scott Minerd has warned of a \u201cmajor correction\u201d in bitcoin in the near term. Claiming that bitcoin is \u201cvery frothy,\u201d he is forecasting a 50% decline in the price of the cryptocurrency.<\/strong><\/p>\n

Scott Minerd\u2019s Latest Warning About Bitcoin<\/h2>\n

The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with another bearish prediction for bitcoin\u2019s price.<\/p>\n

Minerd is also the chairman of Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners. Guggenheim Investments has about $270 billion in total assets under management across fixed income, equity, and alternative strategies.<\/p>\n

He said in an interview with CNBC on Wednesday that bitcoin has run too far, too fast. The executive opined:<\/p>\n

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Given the massive move we\u2019ve had in bitcoin over the short run, things are very frothy, and I think we\u2019re going to have a major correction in bitcoin.<\/p>\n<\/blockquote>\n

\u201cI think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline, but the interesting thing about bitcoin is we\u2019ve seen these kinds of declines before,\u201d he continued.<\/p>\n

Nonetheless, Minerd noted that he thinks the major price correction is part of \u201cthe normal evolution in what is a longer-term bull market.\u201d<\/p>\n

The Guggenheim CIO has maintained his long-term prediction that the price of bitcoin could reach $600K. He first revealed his high BTC price forecast back in December last year. However, he subsequently focused on bearish short-term trends. Earlier this month, he warned of a bitcoin pullback, noting that it will be a great entry point for long-term investors.<\/p>\n<\/blockquote>\n