Bitcoin (BTC) is the subject of a price prediction for 2021 on Thursday that has one analyst expecting the cryptocurrency to take a major dive.
A recent interview with Guggenheim Partners chief investment officer Scott Minerd has him claiming that bitcoin is going to fall back down to $20,000. The analyst says the cryptocurrency won’t see a new all-time high again until the end of 2022 as its current rally can’t hold out forever.
Even though Minerd believes that bitcoin is going to fall in 2021, his long-term price prediction for the crypto still stands. Late last year the analyst said he expects bitcoin to reach a value of $400,000, reports CoinTrust.
If Minerd’s price predictions are correct, crypto investors would benefit from picking bitcoin up in 2021 if it does drop back to $20,000. It’s worth noting that the digital currency was at a low of about $31,000 in the last 24 hours after hitting its new high of $41,950 on Jan 8.
BTC was down 6.9% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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