Bitcoin may have further room to fall after its recent 50% decline, according to Guggenheim’s chief investment officer Scott Minerd.
Despite Minerd’s bearish outlook on bitcoin in the medium-term, he does see potential for bitcoin to trade much higher in the long-term. Research from Guggenheim has suggested that Bitcoin could surge to $400,000 to $600,000 if it successfully competes against gold as an alternative asset class for investors and asset allocators.
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