{"id":232206,"date":"2021-04-21T16:37:40","date_gmt":"2021-04-21T13:37:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning\/"},"modified":"2021-04-21T16:37:40","modified_gmt":"2021-04-21T13:37:40","slug":"guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning\/","title":{"rendered":"# Guggenheim CIO repeats $20K Bitcoin price forecast as BTC doubles since last warning"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40eea67c835\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40eea67c835\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning\/#Familiar_Bitcoin_bear_target_resurfaces\" >Familiar Bitcoin bear target resurfaces<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning\/#An_entirely_average_BTC_pullback\" >An entirely average BTC pullback<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Guggenheim CIO repeats $20K Bitcoin price forecast as BTC doubles since last warning <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The chief investment officer of investment giant Guggenheim has repeated warnings that Bitcoin (BTC) will crash to $20,000.<\/p>\n<p>In an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/04\/21\/bitcoin-could-plunge-50percent-near-term-guggenheims-scott-minerd-warns.html\">interview<\/a> with CNBC on April 20, Scott Minerd warned again that Bitcoin could lose half of its value in a pullback.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Familiar_Bitcoin_bear_target_resurfaces\"><\/span>Familiar Bitcoin bear target resurfaces<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u201cGiven the massive move we\u2019ve had in bitcoin over the short run, things are very frothy, and I think we\u2019re going to have to have a major correction in bitcoin,\u201d Minerd told the network. <\/p>\n<p>Bitcoin lingered near $55,000 on Wednesday, having bounced off $52,000 in the latest pullback of its 2021 bull market.<\/p>\n<p>For Minerd, who last claimed that BTC\/USD would return to $20,000 in January, such an event would form part of a normal market cycle\u2019s ups and downs. His longer-term forecast of $400,000 per Bitcoin still stood, he said.<\/p>\n<p>\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<p>Minerd, who previously garnered controversy over his BTC price remarks, was nevertheless not alone in his bearish near-term prognosis. As Cointelegraph reported, JPMorgan analysts likewise sounded the alarm this week, their concern focused on futures markets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"An_entirely_average_BTC_pullback\"><\/span>An entirely average BTC pullback<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reacting, Bitcoin proponents dismissed any idea that deeper losses were inevitable, referencing a combination of factors including strong on-chain indicators.<\/p>\n<p>\u201cWrong,\u201d Morgan Creek Digital co-founder Anthony Pompliano <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1384848932556230656\">responded<\/a> to Minerd.<\/p>\n<p>On Jan. 20, the executive had claimed that Bitcoin had put in a price top for the remainder of the year. Since then, BTC\/USD has more than doubled.<\/p>\n<p>&#8220;In 2017, the average BTC Bull Market correction took 16 days. This most recent pullback has been going on for only 7 days,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1384844112654999554\">noted<\/a> about the current price action. <\/p>\n<blockquote><p>&#8220;So while corrections tend to last a few weeks&#8230; They are very short in the grander scheme of the overall Bull Market.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/9eaf0f7d-95fb-454c-8ee8-076a2538bdd3.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD corrections during the 2017 bull cycle. Source: Nathaniel Whittemore\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/guggenheim-cio-repeats-20k-bitcoin-price-forecast-as-btc-doubles-since-last-warning\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Guggenheim CIO repeats $20K Bitcoin price forecast as BTC doubles since last warning &#8221; The chief investment officer of investment giant Guggenheim has repeated warnings that Bitcoin (BTC) will crash to $20,000. In an interview with CNBC on April 20, Scott Minerd warned again that Bitcoin could lose half of its value in a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":232207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvZjI3M2I1YTMtZjBlNy00YTFmLTkxZjUtMjBiMDQzNzM3NjFlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-232206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=232206"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/232206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/232207"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=232206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=232206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=232206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}