Kevin Helms reports in bitcoin.com that "Guggenheim CIO Scott Minerd has warned of a “major correction” in bitcoin in the near term. Claiming that bitcoin is “very frothy,” he is forecasting a 50% decline in the price of the cryptocurrency."
"Given the massive move we’ve had in bitcoin over the short run, things are very frothy, and I think we’re going to have a major correction in bitcoin. I think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline."
But the interesting thing is that he sees it as normal for Bitcoin noting that we have seen this kind of volatility in Bitcoin before.
I tend to agree with him. What is your take?
If that happens at least two groups of investors will benefit from it - the one who plans to buy the dip and the other who felt that they missed the boat and did not buy Bitcoin when the price was low.
Source credit and full story - https://news.bitcoin.com/investment-manager-guggenheim-warns-major-correction-bitcoin/
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