Cryptocurrency

Forecaster Predicting 50 Percent Collapse: Bitcoin Will Drop To These Levels!

Scott Minerd of Guggenheim is making headlines with the assumption of a crypto currency with value again. Scott Minerd argues that Bitcoin (BTC) key reinforcement may soon be broken. Let’s examine the claims of Scott Minerd and other analysts in detail…

Scott Minerd: The precious reinforcement level for Bitcoin may be broken!

Scott Minerd from Guggenheim recently made the assumption of a valuable BTC. Scott Minerd stated that $30,000 is a critical level for Bitcoin, and that this valuable foothold “may fail soon.” Scott Minerd of the Guggenheim adds to his comments on the bet:

I believe it keeps getting weaker with each new test.

Earlier today, Bitcoin dropped as low as $31.012 on the Bitstamp exchange, but later managed to bounce back into the $32,000 low zone. The largest cryptocurrency is currently trading on the green board.

Scott Minerd believes Bitcoin price will drop to $15,000 or even $10,000

Cryptocoin. com, Scott Minerd believes that the price of Bitcoin will drop to $ 15,000 or even $ 10,000. Later, Scott Minerd reiterated his call for decline, arguing that Bitcoin is in the midst of a “crash.”

Scott Minerd, the founder of Guggenheim Partners, correctly predicted that Bitcoin would fall by 50% in April. After its massive drop in May and failing to find a footing above the $41,000 level in June, Bitcoin has now been in range for more than three weeks.

Analysts now have mixed views on BTC price

Analysts now have mixed views. Trader named “Rekt Capital” believes that Bitcoin can form a triple base. The trader thinks that a daily close above $31,500 could be a bullish signal with the price target moving to $38,900.

Peter Schiff, prominent Bitcoin critic and CEO of Euro Pacific Capital, took to Twitter to share that Galaxy Digital Holdings (GLXY) stock price has dropped from its April high. According to Peter Schiff, this GLXY drop is by no means good for BTC. Peter Schiff hopes that this drop could even push Bitcoin below the current $30,000 support level.

What is the latest situation in the price of Bitcoin?

President cryptocurrency Bitcoin is trading at $31,850 with small increases at the time of writing. The flagship of cryptocurrencies currently has a market cap of $597.6 billion. Bitcoin manages a recent 24-hour trading volume of $23.5 billion at the time of writing.

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