This year is quite the rollercoaster for Bitcoin (CCC:BTC-USD). Back in April, prices were soaring to all-time highs of over $64,000. Just as quickly as BTC built those gains, it toppled. Now, the crown-bearing cryptocurrency is looking to climb back, but some analysts think it won’t happen right away. What are Bitcoin (BTC) price predictions looking like as Bitcoin attempts to retake is previous highs?
Scott Minerd, chief investment officer of Guggenheim Partners, is bearish on Bitcoin… at least in the near term.
The expert, who previously stated that he believed Bitcoin could climb to $600,000, is now expecting puny valuations for BTC. Minerd recently said that Bitcoin could potentially bottom out at just $15,000, making things significantly worse before they get better.
Of course, Minerd is touting this price bottoming as a momentous buying opportunity, which doesn’t make the correction all that bad.
Bitcoin (BTC) Price Predictions: Analysts Largely Bullish Still
Minerd might not be wrong, but he’s certainly not in the majority. Most analysts’ predictions might be trending down, but they are still calling for large gains:
- Gov Capital suggests BTC will retake the $50,000 mark by June 2022, bringing it back toward that $64,000 high.
- WalletInvestor thinks that in the same timeframe, Bitcoin will be standing on the doorstep of a new all-time high. They predict a $63,000 value in 12 months.
- The Economy Forecast Agency thinks Bitcoin could blow past the all-time high easily by June of next year. The outlet predicts a high of over $96,000 next June.
- Billionaires and crypto economists are even more bullish than these technical analytics outlets. For example, blockchain analyst Willy Woo may have lowered his price prediction; however, the readjusted prediction is still $200,000 by the end of this year.
- Additionally, venture capitalist Tim Draper is calling for BTC to hit $250,000 by the end of 2022.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2021/06/bitcoin-btc-price-predictions-why-one-analyst-thinks-btc-will-sink-to-15k/.
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