{"id":41215,"date":"2021-04-22T11:27:41","date_gmt":"2021-04-22T08:27:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41215"},"modified":"2025-08-30T17:47:28","modified_gmt":"2025-08-30T14:47:28","slug":"guggenheim-partners-warn-of-possible-bitcoin-correction-to-20000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/guggenheim-partners-warn-of-possible-bitcoin-correction-to-20000\/","title":{"rendered":"Guggenheim Partners warn of possible Bitcoin correction to $20,000"},"content":{"rendered":"

Guggenheim Partners’ chief investment officer Scott Minerd told CNBC <\/a>that he remains optimistic about Bitcoin’s long-term prospects, but the price of the leading cryptocurrency has risen too fast.<\/p>\n

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‘Given the scale of the move we’ve seen in Bitcoin in a short period, there is a lot of froth in the market. I think we’ll have to endure a significant correction,’ Minerd said.<\/p>\n<\/blockquote>\n

On April 14, the price of digital gold reached a new all-time high<\/a> above $64,000. On Sunday, April 18, the price slumped<\/a>, briefly dropping below $52,000. The investor believes this could be only the beginning.<\/p>\n

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‘I think we could return to $20,000\u2013$30,000, which would be a 50% decline, but the most interesting thing about Bitcoin is that such declines have happened before,’ he said.<\/p>\n<\/blockquote>\n

According to him, such a correction is part of the ‘normal evolution of the long-term bull market.’ In this respect, he remains true to his forecast that the price of the leading cryptocurrency would reach between $400,000 and $600,000<\/a>.<\/p>\n

Minerd first warned in January<\/a>, after the flagship breached the $40,000 level<\/a>.<\/p>\n

Earlier, JPMorgan strategist Nikolaos Panigirtzoglou also warned of a deeper Bitcoin correction<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Guggenheim Partners’ chief investment officer Scott Minerd told CNBC that he remains optimistic about Bitcoin’s long-term prospects, but the price of the first cryptocurrency has risen too fast.<\/p>\n","protected":false},"author":1,"featured_media":41216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,2036],"class_list":["post-41215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-guggenheim-partners"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41215"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41215\/revisions"}],"predecessor-version":[{"id":41217,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41215\/revisions\/41217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/41216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}