{"id":159552,"date":"2021-01-21T13:00:41","date_gmt":"2021-01-21T10:00:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/guggenheim-cio-expects-bitcoin-to-drop-to-20000\/"},"modified":"2021-01-21T13:00:41","modified_gmt":"2021-01-21T10:00:41","slug":"guggenheim-cio-expects-bitcoin-to-drop-to-20000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/guggenheim-cio-expects-bitcoin-to-drop-to-20000\/","title":{"rendered":"# Guggenheim CIO expects Bitcoin to drop to $20,000"},"content":{"rendered":"

“# Guggenheim CIO expects Bitcoin to drop to $20,000 <\/strong>”
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A senior executive at financial services firm Guggenheim Partners \u2014 which is planning to seek investment exposure to Bitcoin (BTC) \u2014 has argued that BTC is poised to drop to $20,000.<\/p>\n

Scott Minerd, Guggenheim\u2019s chief investment officer, believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode<\/a> of CNBC’s Closing Bell.<\/em><\/p>\n

After hitting $42,000 price level on Jan. 8, Bitcoin is unlikely to climb any higher until 2022, Minerd said<\/a>:<\/p>\n

\u201cI think for the time being, we probably put in the top for bitcoin for the next year or so. And we’re likely to see a full retracement back toward the 20,000 level.\u201d<\/p><\/blockquote>\n

Despite Minerd\u2019s bearish short-term Bitcoin prediction, the CIO app<\/a>arently still maintains a stance that one bitcoin will be worth as much as $400,000 one day. In late 2020, when Bitcoin was on its way to cross its new ATHs, the CIO called for a $400,000 long-term price target for Bitcoin. He subsequently went bearish on BTC in the short term, claiming that “Bitcoin’s parabolic rise is unsustainable in the near term” on Jan. 10.<\/p>\n

Some in the crypto community have gotten mixed signals from Minerd\u2019s varying predictions. One Twitter<\/a> user juxtaposed two separate headlines with Minerd’s comments on the Bitcoin price:<\/p>\n

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The Guggenheim CIO Scott Minerd ladies and gentlemen. I will just leave this here, draw your own conclusions#Bitcoin<\/a> pic.twitter.com\/TSrtF759mM<\/a><\/p>\n

\u2014 xCR1337 (@cryptonator1337) January 21, 2021<\/a><\/p><\/blockquote>\n