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Investor who predicted a $400,000 Bitcoin is now calling for a 50% drop

Guggenheimโ€™s Scott Minerd says โ€˜things are too frothyโ€™ in the Bitcoin market and that itโ€™s heading for a drop.

Investor who predicted a $400,000 Bitcoin is now calling for a 50% drop

Cover art/illustration via CryptoSlate

Scott Minerd, the Chief Investment Officer of famed investment firm Guggenheim Partnersโ€™, says Bitcoin (BTC) could see a 50% drop in the near term as itโ€™s run โ€˜too far, too fast.โ€™ He made the comments in an appearance on CNBC show Worldwide Exchange yesterday.

Guggenheim made it to the crypto history books last year after putting out a $400,000 price target for Bitcoin.

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