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Minerd Says BTC is “Very Frothy” and Could See Major Correction

Published 04/22/2021, 05:36 AM
Updated 04/22/2021, 06:00 AM
© Reuters.  Minerd Says BTC is “Very Frothy” and Could See Major Correction
BTC/USD
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  • Scott Minerd says Bitcoin price could see a major correction soon.
  • Minerd has predicted a 50% reduction in BTC price.

Guggenheim Partners CIO Scott Minerd has given caution about the coming Bitcoin price correction. According to Minerd, Bitcoin will soon face a major price correction than what we are seeing now.

Of note, Minerd said that BTC is “very frothy” and could see a pullback in price in the short term.

Minerd gave his bearish thought about the flagship currency Bitcoin in an interview. Discussing Bitcoin, Minerd notably said that BTC has indeed run too far and too fast.

Minerd said,

“Given the massive move we’ve had in bitcoin over the short run, things are very frothy, and I think we’re going to have a major correction in bitcoin”.

Continuously, Minerd said that Bitcoin could pull back to $20,000 or $30,000. If this happens, BT...

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