BITCOIN could see a “major correction” and plunge by 50% pulling back to $20,000, an analyst has said.
Speaking to CNBC’s Worldwide Exchange, Guggenheim Partners’ Scott Minerd said the world’s largest cryptocurrency has run too far, too fast.
“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.
It comes as one of Britain’s most prominent investors has put $100m (£72m) into the UK’s biggest cryptocurrency company.
Baillie Gifford has become the biggest outside shareholder in Blockchain.com with the investment.
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