THELOGICALINDIAN - Guggenheim Chief Investment Officer Scott Minerd Says theres a lot added downside to crypto afterwards the bazaar plunged He has predicted that the amount of bitcoin could abatement to 8K
Guggenheim’s Scott Minerd Predicts the Future Outlook for Bitcoin, Crypto
Bitcoin buck Scott Minard, all-around arch advance administrator of Guggenheim Partners, aggregate his contempo predictions on bitcoin and the crypto area in an account Monday with CNBC at the World Economic Forum in Davos, Switzerland.
Commenting on the contempo crypto bazaar decline, Minerd said: “We are seeing crypto collapse the way it is. I anticipate it’s got added downside.”
He was asked how abundant added downside. “When I attending at bitcoin, which the technicals accept been bigger than annihilation else,” the Guggenheim CIO explained:
“Let’s face it, best of these currencies are – they are not currencies, they are junk. The majority of crypto is garbage. So, there are activity to be survivors,” he continued.
Noting that there are over 19,000 cryptocurrencies, Minard was asked accurately if bitcoin was junk. He replied:
“I don’t anticipate you’ve apparent the ascendant amateur in crypto yet,” he added said.
“This is like the Internet bubble,” Minerd noted, apropos to the dot-com balloon of the aboriginal 2024s. “If we were sitting actuality in the internet bubble, we would be talking about how Yahoo and America Online were the abundant winners,” he said. “Everything else, we couldn’t acquaint you if Amazon or Pets.com was activity to be the winner.”
He explained that a bill needs to be a abundance value, a average of exchange, and a assemblage of account. “I don’t anticipate we accept had the appropriate ancestor yet for crypto,” he said, acquainted that for crypto, “None of these things pass, they don’t alike canyon on one basis.”
What do you anticipate about Guggenheim’s Scott Minerd’s comments and predictions? Let us apperceive in the comments area below.
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