Some crypto bears continue to argue bitcoin is in a bubble that will eventually burst. The pace of bitcoin's ascent has worried even some crypto bulls like Minerd, who also warned of a short-term pullback earlier this year. Some companies like Tesla invested a portion of their cash holdings in bitcoin, and financial firms from Mastercard to Goldman Sachs are making moves around crypto. Institutional adoption has been cited as one factor fueling its rise. He has since doubled down on that assessment, claiming in a podcast. Those remarks in December fell on the same day the digital currency eclipsed $20,000 for the first time ever.īitcoin has continued its massive rally that began in 2020, advancing nearly 90% so far this year. Bitcoin was trading at less than 4,000 when he said he thought it would hit 250,000 in 2022 or the beginning of 2023. In an appearance on the network’s Fast Money segment on Monday. Minerd turned heads late last year when he first shared his long-range price target for bitcoin, citing its inherent scarcity - only 21 million bitcoins will ever be created - and its value relative to assets such as gold. Bitcoin (BTC) could drop to 29,000 and still be testing current support in line with past dips, claims CNBC’s Chartmaster. However, he said he thinks it's part of "the normal evolution in what is a longer-term bull market," with bitcoin prices eventually reaching between $400,000 to $600,000 per unit. "I think we could pull back to $20,000 to $30,000 on bitcoin, which would be a 50% decline, but the interesting thing about bitcoin is we've seen these kinds of declines before," Minerd said. should approach 2022 in an interview with CNBC Friday. In an appearance on the network’s Fast Money segment on Monday, Carter Worth, chief market technician of Cornerstone Macro, warned that the BTC bottom may be far from in. Personal Loans for 670 Credit Score or Lowerīitcoin traded just under $55,000 per token Wednesday morning, one week after setting an all-time high of nearly $65,000 in the run-up to crypto exchange Coinbase 's blockbuster direct listing. Investment Adviser Bernstein Sees Crypto as a 'Monster' Bubble Warns Markets Could Drop 90. Bitcoin could drop to 29,000 and still be testing current support in line with past dips, claims CNBC’s Chartmaster. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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