Scott Minerd Shares His Thoughts on Bitcoin’s (BTC) Real Bottom

Scott Minerd Shares His Thoughts on Bitcoin's (BTC) Real Bottom

Guggenheim CIO Scott Minerd said in his CNBC program that the $10,000 level would be the real bottom of Bitcoin, based on technical indicators.

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Minerd later acknowledged that this extremely bearish price target may have been “exaggerated,” saying the price could be around $15,000.

“Bitcoin’s real bottom would be $10,000 when you look at technical indicators. You know, that’s probably a little extreme. So I would say $15,000.”

“Shouldn’t Be Hurried”

Bitcoin’s rapid rise to the $35,000 level was seen as a bull trap. The asset is now down to $32,000. It looks like the bears are on the move.

Minerd says that investors who want to enter the leading cryptocurrency should not rush:

“I don’t think people should worry about investing in Bitcoin right now”

Bitcoin needs to experience a 68% correction for Minerd’s most pessimistic target to be met.

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Peter Oflina

Peter Oflina

Blog news site with the most up-to-date and latest Bitcoin news, cryptocurrency analysis, business ideas and wordpress articles.

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