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Money shares Bitcoin & Co: Guggenheim CIO expected slump in autumn

05:18  27 july  2021
05:18  27 july  2021 Source:   finanzen.net

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Bitcoin Steadies After Biggest Slump Since March's Meltdown. Listen to article. Guggenheim is reserving the right for its .3 billion Macro Opportunities Fund -- which aims for total return via fixed income and other debt and equity securities -- to invest in the Grayscale Bitcoin Trust. The trust’s shares are solely invested in Bitcoin , and track the digital asset’s price less fees and expenses.

Bitcoin ’s bull run may have peaked and the cryptocurrency could suffer a significant price pullback, according to Guggenheim Partners Chief Investment Officer Scott Minerd. “For the time being, we have probably put in a top for bitcoin for the next year or so,” Minerd told CNBC on Tuesday, adding that the cryptocurrency could retrace to ,000. Minerd also shared his view on traditional markets, pointing to the Federal Reserve’s open-ended liquidity boosting bond purchase program as the main reason for the slump in the U.S dollar.

the financial markets is a turbulent autumn before, believes Guggenheim manager Scott Minerd. The expert expects not only with a massive sales on the stock market, but also says a crash ahead for the crypto market.

DANIEL ROLAND/AFP/Getty Images © Contributed by Finanzen.net DANIEL ROLAND / AFP / Getty Images

Guggenheim CIO sees shares in October 15 percent deeper

Bitcoin could be halved

high-yield bonds currently too expensive

inflation concerns, possible adjustments in monetary policy and the fear have caused high anxiety among investors in recent weeks from the effects of delta variant of the coronavirus. Even Scott Minerd, chief investment officer of asset management Guggenheim Investment, sees a dangerous conflict situation and expects in autumn with sharp price declines.

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Guggenheim Investments is “the global asset management and investment advisory division of Guggenheim Partners and has more than 3 billion in total assets across fixed income, equity and alternative strategies.” It focuses on “the return and risk needs of insurance companies , corporate and public On June 25, however, the Guggenheim CIO seemed even more bearish on Bitcoin , at least in the short to medium term. During an interview on CNBC, Minerd said that he expected the Bitcoin price to head lower and that investors need not be “anxious in putting money in Bitcoin now” since he

Scott Minerd, Guggenheim ’s chief investment officer , believes that Bitcoin will not hit another all-time high in 2021, according to a Jan. 21 episode of CNBC's Closing Bell. After hitting ,000 price level on Jan. Despite Minerd’s bearish short-term Bitcoin prediction, the CIO apparently still maintains a stance that one bitcoin will be worth as much as 0,000 one day. In late 2020, when Bitcoin was on its way to cross its new ATHs, the CIO called for a 0,000 long-term price target for Bitcoin .

shares pullback of 15 percent

In an interview with "Bloomberg Television" the expert, what might be in the investors after the summer explains: "September and October this year will probably be very hard." In stocks, he expects massive price declines, "maybe a pullback of 15% or a little more."

Here Minerd various risk factors has identified for the markets. First, he calls in this context a faster-than-expected reduction of asset purchases by the US Federal Reserve. The spread of the Delta variant of COVID-19 is his view by beating on the stock market after stressful.

a longer-term decline does not expect the Guggenheim CIO but apparently: "As soon as are the Dodgers at the opening game of the World Series here, I think that you can buy," he says. The first game that competes in the defending champion Los Angeles Dodgers, has been scheduled for 26 October.

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The world’s most popular cryptocurrency, bitcoin , should be worth about 20 times more than it is now, based on its scarcity and value relative to gold, according to Guggenheim ’s global chief investment officer ( CIO ) Scott Minerd. Minerd told Bloomberg that the supply of bitcoin is limited to 21 million coins, giving It’s based on the scarcity and relative valuation such as things like gold as a percentage of GDP,” Minerd said. Guggenheim is among the institutional players that is validating bitcoin ’s legitimacy as a reserve asset. Last month, the firm filed to reserve the right for 10 percent of its .3

Guggenheim ’s Chief Investment Officer , Scott Minerd, is expecting to Bitcoin do a full retracement back to ,000 from its all-time high of ,000. However, economist Alex Kruger is having none of Minerd’s predictions. Kruger believes that the latter is deliberately undermining Bitcoin so that his firm, Guggenheim , can buy it cheaper when its SEC filing becomes effective in February. Here's @ScottMinerd who insists in trying to talk $BTC down so he may buy lower in February, when his SEC approval becomes effective.Minerd, rather unintelligently, told the world he thought # Bitcoin should

Many crypto currencies "just scrap"

side shares According Minerd also crypto currencies are experiencing a harsh autumn. When crypto Primus Bitcoin he expects a continuation of the price decline, down to $ 15,000, it could, in his opinion go down. Thus, the world's largest cryptocurrency would halve the current level of about. "As more air is let out," says Minerd. The standard bear market for Bitcoin is a 80-percent pullback, "given all the uncertainty and the new competition from new coins, I think that there is further downside potential."

"There's silence more air to come out of this."

Guggenheim's Scott Minerd says Bitcoin Could drop to $ 15,000 https://t.co/JbGop61Sdg pic.twitter.com/bfjTKTMk8W

- Bloomberg TV (@BloombergTV) July 22, 2021

He sees crypto systems as a whole is currently critical , "A lot of this stuff is just junk," he says in an interview. - Bitcoin trade Plus 500 - as it gets. 72% of private investor accounts lose money if you are using this provider CFDS . You should carefully check if you can afford to take the high risk of losing your money. - whether the recent underperformance of Bitcoin a bad sign for risk assets and could be "canary in the coal mine, which tells us that we will have to risk assets and especially equities more problems" of. would in the long run Minerd rather rely on Ethereum place on Bitcoin: This cryptocurrency was "viable".

Better opportunities for high-yield bonds come

also high-yield bonds are not recommended at this time. These are currently extremely expensive, this will come in the coming months better buying opportunities, the Guggenheim manager believes. "We are coming into a seasonal difficult time for risk assets, and it might be a better entry point if you want to engage in high-yield bonds, the case than it is today," said Minerd.

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