BITCOIN COULD PULL BACK TO $20,000
Bitcoin could pull back to $20,000, Guggenheim Partners’ veteran financial figurehead Scott Minerd has claimed.
He said BTC overstretched itself at a dangerous speed, meaning its value could have in the coming weeks.
He told CNBC’s Worldwide Exchange: “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 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 per cent decline, but the interesting thing about Bitcoin is we’ve seen these kinds of declines before.”
