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Bitcoin Price Prediction 2021: Why Analyst Sees BTC Falling Back to $20K


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.

image of bitcoin to represent cryptocurrency stocks

Source: Shutterstock

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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Article printed from InvestorPlace Media, https://investorplace.com/2021/01/bitcoin-price-prediction-2021-why-analyst-sees-btc-falling-back-to-20k/.

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