Against the background of the increase in the key rate and the tightening of monetary policy Fed bitcoin price could drop below $8,000. About it in an interview CNBC said Guggenheim Partners investment director Scott Minerd.
“When you hit $30,000 consistently, $8,000 is the ultimate bottom. So I think we still have a lot of room to cut, especially with the Fed acting tough,” he said.
According to Minerd, most digital assets are “junk”, but Bitcoin and Ethereum will survive the crypto winter. However, he does not believe that the dominant player in the industry has already been identified.
The Guggenheim investment director also compared the crypto market to the dot-com bubble:
“If we were sitting here during the internet bubble, we would be talking about how Yahoo and America Online are big winners. For everyone else, we couldn’t have predicted who would win – Amazon or Pets.com.”
Minerd emphasized that the digital asset industry has not yet come to the right design for cryptocurrencies. In his opinion, the currency should store value, be a medium of exchange and a unit of account.
“There is nothing like it, they [криптовалюты] did not even come to a single basis, ”he concluded.
Recall that earlier a supporter of gold and a critic of the first cryptocurrency, Peter Schiff, predicted a test of $ 8,000 by Bitcoin.
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Against the background of the increase in the key rate and the tightening of monetary policy Fed bitcoin price could drop below $8,000. About it in an interview CNBC said Guggenheim Partners investment director Scott Minerd.
“When you hit $30,000 consistently, $8,000 is the ultimate bottom. So I think we still have a lot of room to cut, especially with the Fed acting tough,” he said.
According to Minerd, most digital assets are “junk”, but Bitcoin and Ethereum will survive the crypto winter. However, he does not believe that the dominant player in the industry has already been identified.
The Guggenheim investment director also compared the crypto market to the dot-com bubble:
“If we were sitting here during the internet bubble, we would be talking about how Yahoo and America Online are big winners. For everyone else, we couldn’t have predicted who would win – Amazon or Pets.com.”
Minerd emphasized that the digital asset industry has not yet come to the right design for cryptocurrencies. In his opinion, the currency should store value, be a medium of exchange and a unit of account.
“There is nothing like it, they [криптовалюты] did not even come to a single basis, ”he concluded.
Recall that earlier a supporter of gold and a critic of the first cryptocurrency, Peter Schiff, predicted a test of $ 8,000 by Bitcoin.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL+ENTER
