Cryptocurrency

Scott Minerd: $30,000 Support May Fail Soon

Chief investment officer of investment firm Guggenheim Partners, Scott Minerd, in his post on Twitter, stated that Bitcoin’s key reinforcement level of around $ 30,000 “may fail soon.”

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Minerd believes that the level of reinforcement continues to weaken with each new test.

https://twitter. com/ScottMinerd/status/1416098169759354891

The rule a technical analyst should remember about Bitcoin: “Every time an anchor is tested, it gets weaker” This means that the $30,000 level may fail soon.

Earlier today, Bitcoin dropped as low as $31.012 on the Bitstamp exchange, but later managed to bounce back to $32,000. The asset is trading at $31.822 at the time of writing, according to Coinmarketcap data.

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