The bitcoin rate can rise to $ 400-600 thousand in the long term, said Scott Minerd, investment director of the investment company Guggenheim Partners. In an interview with CNN, he said that there is still “a lot of space” for the continued growth of the first cryptocurrency, if we take into account the limited emission and compare it with gold. Writes about this RBC Crypto.
“Cryptocurrency has come into the realm of respectability & will continue to become more and more important in the global economy.” @ScottMinerd talks $ GME / $SLV / $ BTC and the logic of bubbles versus buying frenzy. pic.twitter.com/ZWoZqZNU2M
— Julia Chatterley (@jchatterleyCNN) February 2, 2021
In the short term, on the contrary, there is a high risk of correction, Minerd warned. He recalled that in recent months, bitcoin has shown a rapid growth, its rate from September to January rose from $ 10 to 42 thousand.At 11:30 Moscow time, the first cryptocurrency costs $ 35.7 thousand, according to data from coinmarketcap.com. Now BTC is overheated, after such dynamics, a halving of its quotes “will not be a surprise,” the expert is sure.
He added that earlier bitcoin was not interesting to large institutional investors due to its low capitalization, but this changed when the rate of the coin rose above $ 10 thousand. Also, Minerd expressed confidence that the role of cryptocurrencies in the global economy will grow.
On January 28, Minerd said that the bitcoin rate would not stay above $ 35 thousand or even above $ 30 thousand, since the demand of large institutional investors is insufficient for this. Earlier, in December, he called $ 400,000 a fair price for the first cryptocurrency.
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