Guggenheim CIO expects Bitcoin to drop to $20,000

Guggenheim CIO expects Bitcoin to drop to $20,000

Guggenheim Partners’ Scott Minerd now expects Bitcoin to drop to $20,000 after predicting a $400,000 long-term price target a month ago. A senior executive at financial services firm Guggenheim Partners — which is planning to seek investment exposure to Bitcoin (BTC) — has argued that BTC is poised to drop to $20,000.Scott Minerd, Guggenheim’s chief investment officer, believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode of CNBC's Closing Bell.After hitting $42,000 price level on Jan. 8, Bitcoin is unlikely to climb any higher until 2022, Minerd....


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