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Against the background of raising the key rate and tightening monetary policy FED the price of bitcoin may fall below $8,000. This was stated in an interview with CNBC by the investment director of Guggenheim Partners Scott Minerd.
“When you consistently break through the $30,000 level, $8,000 is the breaking bottom. So I think we still have a lot of room to downgrade, especially given that the Fed is acting tough,” he said.
According to Minerd, most digital assets are “junk”, however, 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 investment director of Guggenheim also compared the situation in the crypto market with a dot-com bubble:
“If we were sitting here during the internet bubble, we would talk about how Yahoo and America Online are great winners. For all the others, we wouldn’t be able to predict who would win, Amazon or Pets.com.”
Minerd stressed that the digital asset industry has not yet come to the right design of cryptocurrencies. In his opinion, the currency should store value, be a medium of exchange and a unit of account.
“There’s nothing like it, they [криптовалюты] they didn’t even come to a common ground,” he concluded.
Earlier, a supporter of gold and a critic of the first cryptocurrency, Peter Schiff, predicted a test of bitcoin at the level of $ 8,000.
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